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China's non-manufacturing activity holds steady in Sept.

2015-10-08 08:42

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China's non-manufacturing activity held steady in September as business growth in the service industry continued to accelerate, an official monthly survey showed Thursday.

The purchasing managers' index (PMI) for the non-manufacturing sector stayed at 53.4 in September, unchanged from August, according to a report released jointly by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion, while a reading below 50 represents contraction.

The sub-index for business expectations rose to 60 in September, up from 59.7 in August. The new order sub-index rebounded to 50.2 from 49.6, back to expansion territory. The figures reflected steady growth in the non-manufacturing sector and confidence in the market, said NBS statistician Zhao Qinghe.

Non-manufacturing PMI tracks business activities of the service and construction industries. The sub-index for service industry increased to 53 from 52.6 in August, indicating service businesses expanded at a faster pace. Meanwhile, the sub-index for the construction industry continued to retreat, down to 55.2 in September from 57.8 in August, suggesting slower growth in construction activity.

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