By Reuters Staff
1 Min Read
BEIJING, April 30 (Reuters) - Activity in China’s services sector grew at a slower pace in April but remained well in expansionary territory, official data showed on Friday, as the domestic consumption recovery continued.
The official non-manufacturing Purchasing Managers’ Index (PMI) slipped to 54.9 from 56.3 in March, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.
While the recovery in China’s services sector, which includes many smaller and private companies, has lagged manufacturing, a gradual improvement in consumption has supported activity.
The official April composite PMI, which includes both manufacturing and services activity, fell to 53.8 from March’s 55.3. (Reporting by Colin Qian and Gabriel Crossley; Editing by Sam Holmes)
China s factory activity expands at slower pace in April msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Syndicated Content
Apr 29, 2021 | 8:15 PM
BEIJING (Reuters) â Chinaâs factory activity expanded at a slower-than-expected pace in April, although strong demand for manufacturing helped sustain growth in the sector.
The official manufacturing Purchasing Managerâs Index (PMI) fell to 51.1 in April from 51.9 in March, data from the national Bureau of Statistics (NBS) showed on Friday, remaining above the 50-point mark that separates growth from contraction.
Analysts had expected it to dip slightly to 51.7.
Chinaâs economic recovery quickened in the first quarter rebounding at a record 18.3% from last yearâs coronavirus-triggered slump, bolstering confidence growth could hit 8.6% for the full year.
Factories struggling with supply constraints Service sector activity growth slows but still brisk (Adds comment, details)
BEIJING, April 30 (Reuters) - China s factory activity growth slowed and missed forecasts in April as supply bottlenecks and rising costs weighed on production and overseas demand lost momentum.
The country s official manufacturing purchasing managers index (PMI) fell to 51.1 in April from 51.9 in March, data from the national Bureau of Statistics (NBS) showed on Friday.
It remained above the 50-point mark that separates growth from contraction on a monthly basis but was below the 51.7 expected in a Reuters poll of analysts. Some surveyed companies report that problems such as chip shortages, problems in international logistics, a shortage of containers, and rising freight rates are still severe, NBS statistician Zhao Qinghe said in a statement accompanying the official PMI.
Film, TV firms call for content purge by China s short video platforms yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.