China's Sept service sector growth at 59.3pc

BEIJING: China's services sector grew 59.3 percent in September, quickening from 57.6 percent in August, data from the China Federation of Logistics and Purchasing (CFLP) showed on Saturday.

Growth in consuming sectors, like retail sales, contributed to the rise in the whole service sector, CFLP said in a statement.

But growth in new export orders slowed to 49.7 percent from 54.1 percent in August, it added.

"We should pay closer attention to the impact of the complicated global economic situation on our economy," Cai Jin, a CFLP vice president, said in the statement.

The Purchasing Managers Index (PMI) for the non-manufacturing sector reported by CFLP compared to a separate private survey by HSBC which showed China's service sector expanded 53.0 in September, recovering from an all-time low of 50.6 in August.

The index is intended to provide a snapshot of conditions in the service sector, which accounts for less than 45 percent of China's economy -- much less than in developed countries. The 50-point level demarcates expansion from contraction.

Copyright Reuters, 2011