Light industrys high note//Services sector grows at slowest pace in 5 months

CHINA"S light industry posted double-digit growth in total output, export and profits in 2012, the National Development and Reform Commission said yesterday.The NDRC said in a statement the total output of major companies in the light industry sector grew 18.2 percent year on year in 2012 to 18.05 trillion yuan (US$2.87 trillion).The export volume of major products surged 13.72 percent annually to US$507.51 billion.We recommend:

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QQ MicroblogRelated ReadingChina light industry output grows 17.6 pctChina"s light industry expands 15% in 2011China"s light industry to shift from exports to rural marketLight industry profits reverse declineChina"s light industry reports 8.8% growth in first five months Next generation of light industry in ChinaHot NewsA beautiful China also world"s common desireAll six proposals are on combat power improvementThree Gorges north dock closes for overhaul Ministry makes public handling of exam paper leakage China"s 8-pct growth likely in next 2 decades: economistChina"s non-manufacturing sector shrinks in Feb.More Nepalis want to learn Chinese language Chinese Lantern Festival celebrated in New Zealand"s Christchurch Services sector grows at slowest pace in 5 months(Shanghai Daily)08:45, March 04, 2013

CHINA"S services sector expanded at its slowest pace in five months in February, according to an official survey, indicating a recovery in the world"s second-largest economy remains tepid.The non-manufacturing purchasing managers" index stood at 54.5 last month, down from 56.2 in January, a report released yesterday by the National Bureau of Statistics and the China Federation of Logistics and Purchasing showed.It was the slowest pace since September when the PMI reached 53.7.Still, the latest reading showed China"s increasingly important services industries continued to rise, albeit at a slower pace. A reading above 50 indicates expansion.The new orders sub-index fell to 51.8 from January"s 53.7, while the index for air and road transport, telecommunication, and retail posting over 50 and that for property, information technology and water transport pointing below 50, the report said.The official manufacturing PMI, which is weighted toward state-owned enterprises, fell to 50.1 from January"s 50.4. A separate index by HSBC, which favors private and export-oriented firms, fell to 50.4 from January"s two-year high of 52.3.The decline was partly due to fewer working days and slower industrial activities last month because of the Spring Festival holiday."February is a low season for construction activities which led to moderating activity in non-manufacturing," Cai Jin, the federation"s vice chairman, said in a statement accompanying the report. "But looking at data from the past two months, the non-manufacturing economy continued to grow relatively fast this year and the good trend may continue as the peak season for construction and consumption approaches."Some service industries surveyed by the federation have a brighter outlook, giving policy makers comfort the slowdown may not be broad based.New orders for civil engineering building rose to a record high, signaling the sector"s "sustained and strengthening drive" behind the economy, the federation said.We recommend:

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4G network to lead the worldEmail|Print|Comments

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