03 Dec '11, 9pm

#china #logistics China's non-manufacturing contracts - TODAYonline

BEIJING - China's non-manufacturing industries contracted last month after the government's curbs on property and lending dampened demand, following a report earlier this week that showed manufacturing contracted for the first time in almost three years. The China Federation of Logistics and Purchasing said on its website yesterday that its Purchasing Managers' Index (PMI) last month fell to 49.7 from 57.7 the previous month. A reading above 50 indicates expansion. The gauge covers industries including construction, retail and property. Curbs on property look set to continue, with the China Business Journal reporting yesterday that China may extend restrictions on purchasing properties in selected cities when the orders expire around the end of the year, citing an unidentified official at the Ministry of Housing and Urban-Rural Development. Relaxing the restrictions now ma...

Full article: http://www.todayonline.com/World/EDC111204-0000011/Chinas...

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