CCTV News: China Federation of Logistics and Procurement and the National Bureau of Statistics Service Industry Survey Center announced the October China non-manufacturing Purchasing Manager Index on October 31. Among them, the business activity index reflecting the overall operating conditions of the non-manufacturing industry has dropped to a contraction range, indicating that the recovery efforts of the non-manufacturing industry are insufficient, but the company's expectations are relatively optimistic.
China's non-manufacturing business activity index in October was 48.7%, down 1.9 percentage points from the previous month.
analysis believes that the continued disturbance of the epidemic on the contact service industry is still the dominant factor dragging down the recovery of non-manufacturing industries. Affected by the frequent occurrence of domestic epidemics, the prosperity of the service industry has declined. Among them, the business activity index of contact service industries such as retail, road transport, air transport, accommodation, catering, leasing and business services has declined, and the total business volume has declined.
In addition, the construction industry business activity index continues to remain at a high level of above 58%. Among them, the commercial activity index of civil engineering construction industry related to infrastructure investment in was 60.8%, which was in the high-level economic range for two consecutive months, indicating that the progress of engineering construction is steadily advancing and the expansion of industry production activities has accelerated.
From the perspective of corporate expectations, companies are still relatively optimistic about the recovery expectations in the fourth quarter. In October, the non-manufacturing business activity expectations index was 57.9%, up 0.8 percentage points from the previous month.
Source: CCTV
