According to data released by the China Federation of Logistics and Purchasing on August 3, the non-manufacturing business activity index in China was 58.9% in July, up 3.5 percentage points from the previous month.
In July, in the non-manufacturing business activity index system, in addition to the supplier distribution index, the business activity index, the new order index, the export index, and the intermediate input price index all increased.
Cai Jin, vice president of the China Federation of Logistics and Purchasing, believes that the non-manufacturing indices in July all showed a good trend, indicating that the overall economic recovery is further showing signs. Among them, the business activities and needs of the producer service industry have improved, indicating that the transmission effect of investment demand is further manifested. However, the wholesale of production materials has not yet seen a significant improvement, reflecting the need to further improve the relevant policies to support the development of SMEs.
The non-manufacturing business activity index consists of 10 indices including business activities, new orders, new export orders, and backlog orders. Generally speaking, the index is above 50%, reflecting the overall rise or growth of the non-manufacturing economy; below 50% reflects the decline or fall of the non-manufacturing economy.
In July, in the non-manufacturing business activity index system, in addition to the supplier distribution index, the business activity index, the new order index, the export index, and the intermediate input price index all increased.
Cai Jin, vice president of the China Federation of Logistics and Purchasing, believes that the non-manufacturing indices in July all showed a good trend, indicating that the overall economic recovery is further showing signs. Among them, the business activities and needs of the producer service industry have improved, indicating that the transmission effect of investment demand is further manifested. However, the wholesale of production materials has not yet seen a significant improvement, reflecting the need to further improve the relevant policies to support the development of SMEs.
The non-manufacturing business activity index consists of 10 indices including business activities, new orders, new export orders, and backlog orders. Generally speaking, the index is above 50%, reflecting the overall rise or growth of the non-manufacturing economy; below 50% reflects the decline or fall of the non-manufacturing economy.
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