Xinhua: China's non-manufacturing business activity shows growth
China's non-manufacturing business activity index has been showing growth for four months in a row due to the rapid recovery of the service sector and the dynamic development of the construction industry. This is reported by the Xinhua news agency with reference to official data published on Sunday.
According to the National Bureau of Statistics, in April, the business activity index of the non-manufacturing sector of China amounted to 56.4%. An index above 50% indicates a revival of business activity, below 50% indicates a deterioration in the economic situation.
The business activity index of China's manufacturing sector has remained in the range of 56-58% in recent months, which indicates the stable growth of this sector and its important contribution to the country's GDP.
According to the business activity index, it is possible to predict first of all what will happen in the economy or its separate sector. When compiling it, the volume of new orders, production volumes, product supply volumes, employment in the labor market, purchase prices, as well as stocks are estimated.
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