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China's non-manufacturing PMI grows at faster pace

Xinhua | Updated: 2016-12-01 10:12

China's non-manufacturing PMI grows at faster pace

A waitress serves fish at a restaurant in Suzhou, Jiangsu province. [Photo provided to China Daily]

BEIJING - Activity in China's non-manufacturing industries continued to expand in November at a faster pace than in the previous month, adding to the recent string of upbeat economic data, an official survey showed Thursday.

China's non-manufacturing Purchasing Managers' Index (PMI) in November came in at 54.7, firming from 54 in October, data from the National Bureau of Statistics (NBS) and China Federation of Logistics and Purchasing revealed.

This is the third consecutive month that the pace of growth has picked up from the previous month, said NBS senior statistician Zhao Qinghe.

The last time China's non-manufacturing PMI was higher was in June 2014, when it reached 55, according to NBS data.

The non-manufacturing PMI tracks business activities of both the service sector and the construction industry.

China is transitioning to a service and innovation-driven economy from an export-reliant one.

Businesses related to wholesale, retail, courier services and storage registered robust growth in November, boosted by the Singles' Day online shopping spree on November 11, said Zhao.

The sub-index for construction activity dipped to 60.4, down 1.4 percentage points from October. The construction industry's pace eased last month, mainly due to cold weather, Zhao noted.

The manufacturing PMI came in at 51.7 in November, up from 51.2 in October, on the back of improving domestic demand, booming manufacturing in consumer goods and high-tech sectors, and better foreign trade figures, the NBS said Thursday.  

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