An aerial drone photo taken on Oct. 13, 2024 shows the autumn scenery at the Sanjiangkou ecological tourism area in Tongjiang City, northeast China's Heilongjiang Province. (Photo by Xu Congjun/Xinhua)
BEIJING, Oct. 31 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.2 in October, up from 50 in September, official data showed Thursday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The service sector sub-index stood at 50.1 in October, up from 49.9 in September, while that for construction fell to 50.4 from 50.7 in the same period, according to the National Bureau of Statistics (NBS).
A breakdown of the data showed that the railway transport, water transport, air transport, postal services, capital market services and ecological conservation sectors recorded expansions in October, while the wholesale, accommodation, internet software and information technology services, property, and resident services sectors logged contractions.
The business expectation index for the service sector remained at a high level of 56.2 in October. Particularly, the business expectation indices for industries such as railway transport, postal services, monetary and financial services, and capital market services were all above 65 percent -- indicating that enterprises in these sectors are optimistic about market prospects, said NBS senior statistician Zhao Qinghe.
The business expectation index for the construction sector improved to 55.2 in October, revealing that construction companies have greater confidence in market development prospects, according to Zhao.
Thursday's data also revealed that the country's manufacturing PMI had risen to 50.1 in October.
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