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China’s nonmanufacturing sector holds steady in November

Updated: Nov 30,2018 9:38 AM     Xinhua

BEIJING — China’s nonmanufacturing sector held steady in November, official data showed on Nov 30.

The purchasing managers’ index for the sector came in at 53.4 in November, down from 53.9 in October, the National Bureau of Statistics (NBS) said.

A reading above 50 indicates expansion, while a reading below reflects contraction.

“Data showed that the nonmanufacturing sector maintained its growth though at a slower pace,” said the NBS in a statement.

The service sector grew faster in November, with its subindex for business activities edging up 0.3 points to 52.4.

The subindex for new orders was 50.1, unchanged from the previous month and slightly above the threshold, while that for sales prices edged down 1.8 points to 49.4.

The subindex for new orders in the construction sector rose 0.3 points to 56.5, while that for sales prices in the sector dropped 1.2 points to 52.8, according to the NBS.

Moreover, the subindex for business activities expectation rose 0.3 points to 60.9 and remained at a high level of the range, showing that nonmanufacturing enterprises were optimistic about future market development.