China's non-manufacturing activity quickens in May

Source: Xinhua| 2017-05-31 12:09:06|Editor: An
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BEIJING, May 31 (Xinhua) -- China's non-manufacturing activity accelerated in May, official data showed Wednesday.

The non-manufacturing purchasing managers' index (PMI) came in at 54.5 this month, up from 54 in April, according to the the National Bureau of Statistics (NBS).

The index has been above 54 for eight consecutive months. A reading above 50 indicates expansion, while a reading below reflects contraction.

The service sector, which accounts for more than half of the country's gross domestic product (GDP) last year, saw robust growth in May, with the index rising to 53.5 from 52.6 in April.

Sub-indices for new business orders and activity expectation came in at 50.3 and 59.2, respectively, which indicated the industry will keep growing relatively rapidly in the months to come, according to NBS senior statistician Zhao Qinghe.

The construction industry index continued fast growth, staying above 60 for the ninth month.

"A stronger performance by the service sector is a positive, though construction continues to do much of the work in supporting the index," noted Bloomberg economist Tom Orlik.

The property sector is cooling, with the index for new orders dipping to the lowest this year.

The NBS data also showed manufacturing PMI at 51.2 in May, flat with April.