China's warehouse storage sector grows for 6th successive month in Jul

06 Aug '23

1 min read

Pic: Shutterstock

Insights

China's warehouse storage sector expanded for the sixth consecutive month in July, with the index tracking the sector's development standing at 52.2 per cent—up by 1.5 percentage points from June's figure, a joint survey found.
The sub-index of business activity expectation reached 56.4 per cent, a 2.7 percentage point increase from the previous month.

China's warehouse storage sector expanded for the sixth consecutive month in July, with the index tracking the sector's development standing at 52.2 per cent—up by 1.5 percentage points from June’s figure, a joint survey by the China Federation of Logistics and Purchasing and CMST Development Co. Ltd. found.

A reading above 50 per cent indicates expansion, while one below that reflects contraction.

Highlighting the warehouse storage sector’s sound development momentum, CMST Development vice president Wang Yong said that with steady implementation of policies to boost consumption and government support of private economy, market demand is expected to continue improving, and the warehousing industry is likely to maintain a stable and positive development, a state-controlled news outlet reported.

In July, the sub-index of business activity expectation reached 56.4 per cent, a 2.7 percentage point increase from the previous month, maintaining a high level of prosperity within the expansion zone, the data showed.

Key sub-indices like business volume, facility utilisation rate, end-of-month inventory and business activity expectations all showed noticeable improvements last month.

Enterprises in the sector have ample confidence for future market performance, Wang added.

Fibre2Fashion News Desk (DS)

More Textiles News - China...