Growth up in China's non-manufacturing sector
Beijing: The Purchasing Managers Index (PMI) of China's non-manufacturing sector, a key economic indicator, rose 0.7 percentage point to 56.3 percent in August, new survey results indicate.
The figure rebounded after a slight fall in July as growth in the non-manufacturing sector stabilized, according to data released by the China Federation of Logistics and Purchasing (CFLP) Monday, reported Xinhua.
A PMI reading above 50 percent indicates expansion from the previous month, while readings below this mark indicate contraction.
"The rebound shows the non-manufacturing sector has played a more significant role in stabilizing economic growth," said CFLP vice chairman Cai Jin.
"The recovery in the consumer service sector and the active information service industry have been building up a solid foundation for stabilized growth," Cai said.