China’s non-manufacturing PMI declines in Sep. ’24

China’s non-manufacturing business activity index fell slightly in September 2024, indicating a decline in overall business conditions within the sector, as per a report published by the National Bureau of Statistics on Monday.

The index registered at 50.0 per cent in September, down from 50.3 per cent in August. This marks a slight deterioration in the non-manufacturing business climate.

The construction industry saw a slight improvement, with its business activity index rising to 50.7 per cent from 50.6 per cent in August. However, the service industry experienced a decline, with its index falling to 49.9 per cent from 50.2 per cent.

In terms of market demand, the new order index declined to 44.2 per cent in September, indicating a decrease in overall demand for non-manufacturing services. The construction industry experienced the most significant decline in new orders, while the service industry saw a more moderate decrease.

Regarding input prices, the overall level fell slightly, with the input price index decreasing to 48.2 per cent. However, the construction industry saw an increase in input prices, while the service industry experienced a decline.

The sales price index also fell in September, indicating a decrease in the overall level of non-manufacturing sales prices. Both the construction and service industries witnessed declines in their sales price indexes.

Attribution: The National Bureau of Statistics report

Subediting: M. S. Salama