03 Dec '11, 6am

China non-manufacturing sector contracts

China non-manufacturing sector contracts

BEIJING: China's non-manufacturing sector contracted in November, according to data released Saturday, as Beijing begins to ease its monetary policy amid signs of a slowdown in the world's second largest economy. The Purchasing Managers' Index fell to 49.7 last month, a fall of eight points from October, the China Federation of Logistics and Purchasing said. A reading above 50 indicates the sector is expanding, while a reading below 50 suggests a contraction. The non-manufacturing sector includes transport, property, retail, catering and the software industry, among others. The data follows figures released Thursday showing China's manufacturing activity contracted in November for the first time in 33 months, as exporters are hit by slowing demand due to the eurozone debt crisis and US economic woes. New orders in the non-manufacturing sector fell to 47.2 in November, down...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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