China's non-manufacturing activity picks up growth pace in January

BEIJING, Jan. 31 (Xinhua) -- China's non-manufacturing activity revved up expansion in January 2024, with the sub-index measuring service activities returning to expansion territory, official data showed Wednesday.

The purchasing managers' index for the sector came in at 50.7 in January, up from 50.4 in December, the National Bureau of Statistics (NBS) said. The sub-index for the service sector was 50.1 in January, up from 49.3 in December.

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

Senior NBS statistician Zhao Qinghe said the holiday in early January boosted people's willingness to travel and spend money, which prompted higher activity levels in the retail, road transport, air transport and catering sectors.

NBS data for January also revealed that the respective sub-indexes for business activities in sectors such as rail transport, postal, and monetary and financial services all exceeded 60, reflecting fast growth in their business volumes.

The construction sector's business activity sub-index stood at 53.9 in January, down from 56.9 in December. Zhao attributed this narrowing increase to low temperatures and the approaching Spring Festival holiday in China, which forced the construction sector to enter its off-season.

However, optimism about the construction sector's prospects remained high, with the sub-index measuring expectations for activities staying in the high-expansion zone at 61.9, according to Zhao. ■