Beijing: The purchasing managers' index (PMI) for China's non-manufacturing sector registered a value of 50.2 in June, marking an increase for the second consecutive month, as per official data released on Tuesday.
According to Emirates News Agency, a reading above 50 signifies expansion, whereas a reading below 50 suggests contraction. The sustained growth reflects a steady economic recovery driven by the high-growth tech and financial industries.
The services sub-index rose slightly by 0.1 points from the previous month to 50.4. Additionally, the construction business activity sub-index saw an increase of more than three points, reaching above 55 and maintaining its position in expansion territory. The construction sector's new orders sub-index returned to expansion after 11 months, climbing to above 51.
Meanwhile, the business expectations index, which assesses confidence based on anticipated demand and other factors, increased by 0.5 points to 55.3 in June, suggesting a more optimistic outlook across various market sectors.
Source: Emirates News Agency