China's non-manufacturing PMI edges down in June

BEIJING, June 30 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.5 in June 2024, down from 51.1 in May, data from the National Bureau of Statistics (NBS) showed Sunday.

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

NBS senior statistician Zhao Qinghe said the figure remained above the boom-bust line, indicating that China's non-manufacturing activities had continued expanding in June.

The data revealed that the service sector sub-index reading was 50.2 in June, down from 50.5 in May, reflecting a decline in business activity.

Services related to air transport, telecommunications, radio and television, satellite transmission, the monetary and financial sector, the postal sector and insurance saw rapid growth in June, while those in the capital market and property sectors logged contraction.

Activity levels in the construction sector edged down as continuous heavy rainfall in southern regions of China had slowed the progress of construction projects, Zhang said.

The sub-index for the construction sector reached 52.3 in June, down from 54.4 a month earlier. However, the reading for the sector's business expectation stood at a high level of 54.7, indicating that the majority of construction companies had maintained an optimistic outlook concerning future industry development.