Chinese non-manufacturing business activity index rises to 53.8% in July – SABC News
The business activity index, which reflects the overall operating conditions of the non-manufacturing sector, has remained above 53% for two consecutive months, showing a steady recovery in business activities of the non-manufacturing sector, data shows. official published on Sunday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
China’s non-manufacturing business activity index fell 0.9 percentage points from the previous month to 53.8% in July, the second highest figure of the year, according to data released by China Federation of Logistics and Purchasing (CFLP) and Services Survey. Center under the National Bureau of Statistics (NBS) on Sunday.
The contact services industry is recovering as the impact of the pandemic continues to fade, according to the NBS. The activity index in the catering sector remained above 60% as residents gradually resumed their daily social activities.
“The service sector activity index continued to rise in July. Driven by a series of preferential policy measures to stabilize growth and promote consumption, as well as the consumer boom in the summer, the service sector has seen growth resume for two consecutive months,” said Shi Zhaohui, Director of the Business Trends Survey Division. from the Service Survey Center of the National Bureau of Statistics.
Expansion in the construction sector accelerated in July, with the sector’s business activity sub-index at 59.2, up 2.6 percentage points from the previous month and representing the highest level this year.
Construction sector supply and demand continued to increase in July, indicating that investment activity continued to improve.
Experts said that in the second half of the year, investment will remain an important element to stabilize growth with the support of special bond funds and credit funds.
“Since the beginning of this year, infrastructure construction has become an important driver of China’s economic growth. In particular, special government bonds have played a key role in stimulating investment. In terms of investment direction, new infrastructure and high-tech industries remain the main areas of special bonds,” said Xu Donghua, an official with the Public Assets Supervision and Administration Commission of China’s Business Council. ‘State.
Sunday’s data also showed the PMI for the manufacturing sector came in at 49 in July, down slightly from 50.2 in June.