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China non-manufacturing PMI rises to 56.5

01-04-2011 08:44 BJT Special Report:China’Economic Data for Dec. |

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Conditions in China's services sector improved in December. The non-manufacturing PMI rose to 56.5, from a nine-month low in November. And experts say it's likely to keep rising.

The non-manufacturing PMI provides a snapshot of conditions in the service sector, which accounts for around 45 percent of China's economy.

Experts say the rebound is mainly due to festive consumption over Christmas and the New Year.

Cai Jin, Deputy Chairman of China Federation of Logistics & Purchasing said "The growth of non-manufacturing PMI was very powerful in December. With Chinese New Year approaching, we predict that the index will be further boosted in January and February."

The sub index of input prices eased a touch to 65.9. That shows the governments' package to curb price rises is taking effect.

Cai Jin said "Even though the input price index did not show an obvious drop, generally speaking, it shows the index is stable."

The new order sub index for the property sector fell in December as well. That shows depressed demand for housing, with the government maintaining strict controls on the sector.

Editor:Xiong Qu |Source: CNTV.CN

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