Growth of China’s non-manufacturing sector slows further in November

Editor: 管理员      Date:2011-12-05      Hit:4108
%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20growth%20of%20China%27s%20non-manufacturing%20sector%20slowed%20sharply%20in%20November%2C%20as%20indicated%20by%20a%20plunge%20in%20the%20Purchasing%20Managers%20Index%20%28PMI%29%2C%20the%20China%20Federation%20of%20Logistics%20and%20Purchasing%20%28CFLP%29%20said%20Saturday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20non-manufacturing%20sector%27s%20PMI%2C%20a%20key%20economic%20indicator%2C%20fell%20sharply%20to%2049.7%20percent%20in%20November%20from%2057.7%20percent%20one%20month%20earlier%2C%20the%20CFLP%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EA%20reading%20above%2050%20percent%20indicates%20expansion%20from%20the%20previous%20month%2C%20while%20below%20suggests%20contraction.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EExtending%20a%20month-on-month%20drop%20in%20October%2C%20the%20figure%20marks%20the%20second%20lowest%20reading%20this%20year%2C%20higher%20than%20the%2044.1%20percent%20registered%20in%20February.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIt%20also%20comes%20after%20China%27s%20PMI%2C%20a%20preliminary%20indicator%20of%20the%20country%27s%20manufacturing%20activity%2C%20slumped%20to%2049%20percent%20in%20the%20same%20period%2C%20indicating%20contraction%20for%20the%20first%20time%20since%20its%20last%20under-50-percent%20reading%20in%20February%202009.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMajor%20sub-indices%20for%20the%20non-manufacturing%20sector%20in%20November%20fell%20month-on-month.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20index%20for%20new%20orders%20posted%20the%20biggest%20drop%2C%20down%205.3%20percentage%20points%20to%2047.2%20percent%20while%20that%20for%20new%20export%20orders%20dropped%204.8%20percentage%20points%20to%2045.6%20percent.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Less%20active%20consumption%20in%20the%20off-season%20and%20the%20sluggish%20demand%20in%20the%20construction%20sector%20combined%20to%20weigh%20down%20the%20index%2C%22%20said%20Cai%20Jin%2C%20vice%20president%20of%20the%20CFLP.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20index%20for%20intermediate%20input%20prices%20retreated%201.3%20percentage%20points%20to%2054.4%20percent%2C%20which%20suggests%20that%20inflation%27s%20negative%20impact%20on%20the%20economy%20is%20tapering%20off%2C%20the%20CFLP%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20CPI%20eased%20from%20a%2037-month%20high%20of%206.5%20percent%20in%20July%20to%205.5%20percent%20in%20October.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBucking%20the%20trend%2C%20the%20index%20for%20business%20outlook%20edged%20up%200.1%20percentage%20points%20to%2060.7%20percent.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20federation%27s%20non-manufacturing%20PMI%20is%20based%20on%20a%20survey%20of%20about%201%2C200%20companies%20in%2020%20industries%20including%20transport%2C%20real%20estate%2C%20retailing%2C%20catering%20and%20software.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWeak%20consumption%20in%20the%20period%20contributed%20to%20a%20significant%20pullback%20in%20indices%20for%20retailing%20and%20catering%20businesses.%20The%20new%20orders%20index%20of%20consumption%20services%20slipped%20to%2044.9%20percent%2C%20the%20lowest%20among%20the%2020%20industries.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBut%20the%20CFLP%20expects%20the%20industry%20to%20gradually%20pick%20up%20steam%20as%20the%20upcoming%20New%20Year%20and%20Spring%20Festival%20will%20revive%20demand.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChecked%20by%20the%20government%27s%20grip%20over%20the%20property%20market%2C%20new%20order%20indices%20in%20construction%20and%20property%20industries%20went%20below%2050%20percent%2C%20a%20sign%20that%20investments%20in%20the%20two%20sectors%20are%20of%20a%20dwindling%20position%20and%20losing%20their%20power%20to%20drive%20the%20economy.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETo%20contain%20runaway%20home%20prices%2C%20the%20Chinese%20government%20has%20put%20in%20place%20a%20slew%20of%20measures%20to%20regulate%20the%20sector%2C%20including%20tighter%20monetary%20policies%2C%20higher%20down%20payments%2C%20restrictions%20on%20second-home%20purchases%20and%20property%20tax%20trials%2C%20slowing%20down%20property-related%20business%20activities.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBusiness%20outlook%20index%20for%20the%20construction%20industry%20is%20the%20lowest%20among%20all%20industries%2C%20settling%20at%2052.4%20percent%20in%20November.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMeanwhile%2C%20logistics%20outperformed%20other%20industries%2C%20with%20its%20PMI%20up%203.5%20percentage%20points%20to%2056.5%20percent.%20The%20index%20for%20new%20orders%20in%20the%20sector%20snapped%20the%20downward%20trend%20for%20consecutive%20months%20to%20reach%2052.5%20percent%2C%20up%20three%20percentage%20points%20month-on-month.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20CFLP%20attributed%20the%20surge%20to%20the%20growing%20demand%20to%20reserve%20commodities%20such%20as%20coal%20and%20ore%20for%20the%20winter.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Overall%2C%20the%20latest%20reading%20reflects%20China%27s%20tightening%20moves%20on%20inflation%2C%20and%20the%20country%20should%20keep%20the%20adjustments%20on%20a%20steady%20and%20sound%20track%2C%22%20Cai%20said%2C%20adding%20China%20should%20attach%20more%20importance%20to%20spurring%20the%20domestic%20engine%20to%20keep%20the%20growth%20sustainable.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%28Xinhua%29%3CBR%3E%3C/FONT%3E%3C/P%3E