China reported accelerating business activity index in the service sector

© RIA Novosti / Alexander Demyanchuka in photobacteria yuan. Archival photoChina reported accelerating business activity index in the service sector© RIA Novosti / Alexander Demyanchuka the image Bank

The purchasing managers ‘ index (PMI) for the non-manufacturing sector of China’s economy in November accelerated to 54.8 after a sharp fall in October, according to data published on Thursday by the statistics Bureau.

The index in November amounted to 54.8 points versus 54.3 points in October.

A reading above 50 indicating growth activity below — its decline.

Stature notes that the index remains in the growth zone, and in the service sector, the trend of stable growth.

The Chinese government supported services to offset the decline in traditional sector such as heavy industry. By the end of 2016 the share of services amounted to 51.6% of GDP, which was a record for China.

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