New data shows business activity in China’s non-manufacturing sector expanded in August at a slightly slower pace from June and July.
The purchasing managers’ index, or PMI, for the non-manufacturing sector fell to 53.4 in August, down from 53.9 for July. That’s data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing.
Non-manufacturing PMI tracks business activities of the service and construction sectors. A reading above 50 indicates expansion, while a reading below 50 represents contraction.
The August reading was well above the expansion-contraction line, although it was lower than the start of the quarter. The service sector sub-index stood at 52.6 in August, down from 52.8 for July, indicating slower growth in the industry.
The sub-index for the construction sector retreated to 57.8 in August, down from 60.1 for July, suggesting waning construction activities.
Meanwhile, the new order sub-index in general slid to 49.6 for August, falling to contraction territory from 50.1 for July.