China's non-manufacturing sector maintains expansion in November2023/12/1 9:13:10(Beijing Time) Lange Steel
China's non-manufacturing activity maintained expansion in November, with the purchasing managers' index for the sector reaching 50.2, the National Bureau of Statistics (NBS) said Thursday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
The sub-index for the service sector was 49.3 in November, down from 50.1 in October, as the impact of the Mid-Autumn Festival and National Day holidays weakened.
The business activities sub-indexes of transport, accommodation, catering, and entertainment went down, as the base in October was high, said senior NBS statistician Zhao Qinghe.
Zhao said the sub-indices of telecommunications, radio, television and satellite transmission services, monetary and financial services, and capital market services all stood above 55.
Enterprises anticipate services activities to pick up, with the sub-index for business expectations rising to 59.3, up from 57.5 in October, showing strong confidence in enterprises in the recovery of the sector in the future.
The construction sector maintained strong growth this month, with its sub-index for business activities standing at 55, up from 53.5 in October, Zhao noted.
The sub-index measuring expectations for activities in the construction sector came in at 62.6, indicating optimism among construction enterprises.
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