The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.2 in July, down from 50.5 in June, official data showed on July 31, 2024.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The data revealed that the service sector sub-index reading stood at 50 in July, down from 50.2 in June, according to data from the National Bureau of Statistics (NBS).
Services related to railway transport, air transport, postal services, culture, sports and entertainment sectors saw rapid growth in July, while those related to retail, capital market services and property sectors logged contraction.
The sub-index for the construction sector was 51.2 in July, down from 52.3 in June. NBS senior statistician Zhao Qinghe attributed the moderation to adverse factors including heat waves, rainstorms and floods around the country, which disrupted the progress of construction projects.
The reading for the construction sector's business expectation stood at a high level of 52.9, indicating that the majority of construction companies maintain an optimistic outlook concerning future industry development, according to Zhao.
点击右上角微信好友
朋友圈
请使用浏览器分享功能进行分享