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China's service production index up 9.3% in November

Xinhua | December 15, 2023

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China's service production index went up 9.3 percent year on year in November, data from the National Bureau of Statistics (NBS) showed Friday.

The growth rate was 1.6 percentage points faster than the October level, it added.

Sub-reading for the hospitality industry surged by 30.6 percent year on year. The sub-index tracking the performance of transportation, warehousing and postal services climbed 15.1 percent, while that for information transmission, software and IT services expanded 13.3 percent, according to the bureau.

The growth paces of the aforementioned industries logged month-on-month increases in November, the NBS said.

In the first 11 months, the service production index increased by 8 percent year on year, 0.1 percentage points faster than that registered in the January-October period.

The combined revenues of major service enterprises rose 7.7 percent year on year in the January-October period, up from an increase of 7.1 percent in the first nine months.

In November, indexes measuring business activities in water transportation and in monetary and financial services stayed above 55 percent.

Commenting on Friday's data, NBS spokesperson Liu Aihua said China's service sector saw "comparatively fast growth" last month, with contact-based services continuing to recover.