China Financial Daily

Letter the Department of Public Works: June PMI shows that non-manufacturing economy continues to grow steadily
According to Chinese Ministry of Public Works web site news letter, in June, China’s non-manufacturing purchasing managers index (PMI) business activity index for 55.4%, in June the index fell, despite the chain, but remained at more than 50%. China’s non-manufacturing sectors of economic activity showed a steady growth trend.

1. Market operations gradually stabilized. Non-manufacturing business activity index has been maintained at four-month high of more than 50% on the current economic activities of non-manufacturing enterprises maintain steady growth trend. Which the producer services business activity index was 52%, down 5.6 percentage points more than Central. The first half of the fourth consecutive month the index remained at more than 50% decline in June reflects the current support of producer services is not a solid basis for improvement. Information services industry is supporting the current improvement in the production of the major sectors of the service sector. Production activities with the manufacturing sector is closely related to the logistics industry and the means of production although the improvement in wholesale, but still less than the driving force of development.

2. Gradually the steady growth of market demand. New orders index for 51.2%, the index has been maintained for 4 months in more than 50%. The first half of the data indicate that in China the effect of government’s macro-control policy gradually emerged, the market demand for non-manufacturing sector also tend to grow steadily. Producer services which the new orders index for 49.6%, down 4.8 percentage points from the previous month, which is the second consecutive month above 50% for the first time back to 50%. Production of new orders index of the service sector and manufacturing new orders repeated index in sharp contrast to the gradual pick-up, indicating a rebound in demand for China’s manufacturing industry has failed to effectively stimulate the demand for productive services sector picked up.

3. The future of the market is expected to continue to run high. Business activities index for the 65.3% expected, the Central than the 0.5 percent rise, has been maintained at four-month high of more than 60%. Productive service enterprises in which the future is also expected to maintain for 5 months in more than 60%, capital goods, wholesale and retail trade, logistics and information services for major production of the future market of the service sector is expected to remain relatively high at 60% level.

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