China non-manufacturing sector’s growth slows

August 3rd, 2012 - 2:53 pm ICT by IANS  

Beijing, Aug 3 (IANS) The Purchasing Managers Index (PMI) of China’s non-manufacturing sector, a key economic indicator, dropped 1.1 percentage points to 55.6 percent in July, new survey results have indicated.

The figure dropped after a rebound in June as growth in the non-manufacturing sector stabilised, according to data released by the China Federation of Logistics and Purchasing (CFLP) Friday.

A PMI reading above 50 percent indicates expansion from the previous month, while readings below this mark indicate contraction, reported Xinhua.

“The figure shows the non-manufacturing economy has maintained steady growth,” said CFLP vice chairperson Cai Jin.

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