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China's non-manufacturing PMI drops in January

(Xinhua)    09:29, February 04, 2014
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BEIJING, Feb. 3 -- The purchasing managers' index (PMI) for China's non-manufacturing sector slipped for a third straight month in January due to a slowdown in the real estate sector, new data showed.

The index dropped to 53.4 percent last month, the lowest since February 2012, from 54.6 percent in December, according to official figures released on Monday.

The index tracks non-manufacturing sectors including construction, software, aviation, railway transport and real estate. A PMI reading above 50 percent indicates expansion, while a reading below 50 percent reflects contraction.