China's non-manufacturing PMI down in October

BEIJING -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 52.4 in October, down from 53.2 in September, the National Bureau of Statistics (NBS) said Sunday.

A reading above 50 indicates expansion, while a reading below it reflects contraction.

Business activities in the non-manufacturing sector continued expansion, but at a slower pace, according to NBS senior statistician Zhao Qinghe.

In October, the sub-index for business activities in the services sector stood at 51.6, down 0.8 percentage points from that in September.

Sectors such as accommodation, catering and entertainment, recorded marked increases in business volume, driven by the week-long National Day holiday in early October. Their sub-indexes for business activities all stood above 55, according to the NBS.

Consumers were more inclined to stay put or take short trips during the holiday due to the epidemic and weather situation, said Zhao. This had led to relatively weaker expansion in both rail and air transportation.

The sub-index tracking business activity expectations for the services sector stood at 58.5, 0.4 percentage points lower than last month, showing most service enterprises are still relatively optimistic about the market in the near term.

In October, China's construction industry maintained steady growth, with the sub-index for business activities standing at 56.9. The indexes measuring new orders and employment stood at 52.3 and 52.4, respectively.

Sunday's data also showed that the PMI for China's manufacturing sector came in at 49.2 in October, down from 49.6 in September.