Reuters logo
China services sector growth accelerates in November
December 1, 2016 / 1:11 AM / in a year

China services sector growth accelerates in November

BEIJING (Reuters) - Growth in China’s services sector accelerated in November at a faster pace than in the previous month, an official survey showed on Thursday.

An employee works at a JD.com logistics centre in Langfang, Hebei province, November 10, 2015. REUTERS/Jason Lee/File Photo

The official non-manufacturing Purchasing Managers’ Index (PMI) stood at 54.7 in November, compared with the previous month’s reading of 54.0 and well above the 50-point mark that separates growth from contraction on a monthly basis.

China is counting on growth in services to offset persistent weakness in exports that is dragging on the world’s second-largest economy.

The economy expanded at a steady 6.7 percent in the third quarter and looks set to hit Beijing’s full-year target, fueled by stronger government spending, record bank lending and a red-hot property market that are adding to its growing pile of debt.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below