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China Non-Manufacturing Growth Moderates

china 031213

China's non-manufacturing activity growth eased in November amid weaker new order inflow, survey results published by China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics revealed Monday.

The non-manufacturing purchasing managers' index, that measures activity across services and construction, fell to 56 in November from 56.3 in October. An index reading above 50, nonetheless, indicates expansion.

The new orders index dropped to 51 from 51.6 a month earlier. The new export orders index remained in negative territory, signaling contraction. However, the indicator rose to 49.9 in November from 49.4 in October.

Employment in the non-manufacturing sector continued to increase. The corresponding sub-index rose to 51.9 from 51.5 in October.

China's manufacturing activity maintained relatively steady growth momentum in November, according to the official survey released on Sunday. However, growth in new orders received by manufacturers remained sluggish while employment contracted, according to the survey.

China's economy expanded 7.8 percent in the third quarter, the fastest pace this year, government data showed in October.

Growth has begun picking up in China, the Organization for Economic Co-operation and Development (OECD) said in its latest global outlook report published last month.

The OECD expects the economy to expand 7.7 percent this year and 8.2 percent in 2014. However, the growth is forecast to moderate to 7.5 percent in 2015.

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