China's road logistics price index rises in May 2024

06 Jun '24

1 min read

China's road logistics price index rises in May 2024

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Insights

China's road logistics price index rose to 103 in May, driven by increased road freight demand in April and May.
This marks a 0.13 per cent rise from April and a 0.39 per cent increase YoY.
The full-truckload sub-index reached 103.2, up 0.18 per cent MoM and 0.46 per cent YoY.
The growth is attributed to higher freight volumes and traffic on expressways.

China's road logistics price index saw an uptick in May, driven by heightened demand for road freight transport in April and May, according to a survey conducted by the China Federation of Logistics and Purchasing in collaboration with Guangdong Lin'an Logistics Group.

The index reached 103 last month, marking a 0.13 per cent increase from April and a 0.39 per cent rise compared to the same period in 2023. Specifically, the full-truckload logistics sub-index climbed to 103.2, reflecting a 0.18 per cent month-on-month (MoM) growth and a 0.46 per cent year-on-year (YoY) increase.

The survey attributed the index's growth to increased activity in the road logistics market during April and May. Notably, both the freight volume along main express delivery routes and the traffic volume on expressways saw MoM rebounds in May, according to Chinese media reports.

Fibre2Fashion News Desk (DP)

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