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Economy | Time: Dec 2 2022 9:51AM  Editor:CCFGroup
China's non-manufacturing PMI down in November
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BEIJING,  (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 46.7 in November, down from 48.7 in October, the National Bureau of Statistics (NBS) said Wednesday.

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

The service sector was weaker this month as resurgences of COVID-19 cases dampened market activities, with its sub-index for business activities declining to 45.1, down from 47 in October, according to NBS senior statistician Zhao Qinghe.

The business volume of industries such as road and air transportation, hospitality and catering dropped in November, while that for monetary and financial services maintained expansion.

The sub-index measuring expectations for business activities of the service sector came in at 53.1 in November, Zhao noted.

Source: Xinhua

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