獨(dú)立指標(biāo)顯示中國(guó)服務(wù)業(yè)反彈

An independent gauge of China’s services sector growth rebounded last month from a nearly 12-month low, narrowing the spread with its official counterpart and pointing to greater divergence with the country’s manufacturing sector.

中國(guó)服務(wù)業(yè)增長(zhǎng)的一個(gè)獨(dú)立指標(biāo)上月從近12個(gè)月來(lái)的低點(diǎn)反彈，收窄了與官方指標(biāo)之間的差距，同時(shí)與中國(guó)制造業(yè)的表現(xiàn)拉大差距。

The Caixin-Markit services purchasing managers’ index came in at 52.8 in May, up from 51.5 in April and further above to the 50-point mark separating growth from contraction.

5月，財(cái)新(Caixin) Markit服務(wù)業(yè)采購(gòu)經(jīng)理人指數(shù)(PMI)達(dá)到52.8，高于4月的51.5，與50這個(gè)榮枯分界線進(jìn)一步拉開(kāi)距離。

The rise ended a four-month streak of weakening growth and tightened the Caixin gauge’s spread with an official services PMI sub-index produced by China’s statistics bureau to 0.7, from 1.1 in April.

這一上升結(jié)束了連續(xù)四個(gè)月的增長(zhǎng)下滑，并使財(cái)新指數(shù)與中國(guó)國(guó)家統(tǒng)計(jì)局(NBS)編制的官方服務(wù)業(yè)PMI指數(shù)之間的差距收窄至0.7，小于4月的1.1。

That was in contrast to Caixin’s manufacturing PMI released this week, which fell into contractionary territory with a reading of 49.6. The Caixin gauges focus primarily on smaller and private firms, while those from the National Bureau of Statistics primarily track larger, state-owned enterprises.

這個(gè)局面與本周發(fā)布的財(cái)新制造業(yè)PMI的情況形成對(duì)照，后者跌入收縮區(qū)間，至49.6。財(cái)新的指數(shù)主要聚焦于中小企業(yè)和民營(yíng)企業(yè)，而國(guó)家統(tǒng)計(jì)局主要跟蹤較大的國(guó)有企業(yè)。

The independent services gauge rose in April to the strongest level since January thanks to a second straight uptick in new orders, though staff numbers rose at the slowest pace so far for the current nine-month streak of growth. That pushed work backlogs up after a marginal fall in April.

5月財(cái)新服務(wù)業(yè)PMI升至1月以來(lái)的最強(qiáng)勁水平，原因是新訂單連續(xù)第二個(gè)月上揚(yáng)，盡管員工人數(shù)在此輪持續(xù)已9個(gè)月的增長(zhǎng)中，正以迄今最慢的速度上升。這使積壓工作量在4月略微下降后出現(xiàn)回升。

Output costs rose again for a fourteenth month running while input costs likewise grew on the back of more expensive raw materials and higher staff wages.

產(chǎn)出成本連續(xù)第14個(gè)月上漲，而投入成本同樣隨著原材料價(jià)格和員工工資提高而上漲。

Together the services and manufacturing readings brought Caixin’s composite index for business activity in China to 51.5 in May, up slightly from a ten-month low of 51.2 in April.

合并服務(wù)業(yè)和制造業(yè)PMI之后，財(cái)新中國(guó)綜合PMI 5月達(dá)到51.5，略高于4月的10個(gè)月低點(diǎn)51.2。