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China's logistics index climbs 3.2 points in Sept 2023
18 Oct '23
1 min read
Pic: Adobe Stock/Irina Sharnina
Insights
- China's logistics industry showed strong performance in September 2023, with the sector's tracking index rising to 53.5 per cent, up 3.2 percentage points from August.
- This indicates an expanding market as a score above 50 signifies growth.
- He Hui, chief economist at CFLP, attributed the positive results to a steady increase in market demand.
China’s logistics industry displayed a robust performance in September 2023, bolstered by policy support and a rise in market demand. The index that tracks the sector's performance registered at 53.5 per cent, marking a 3.2 percentage point increase from August.
A reading above 50 on the index signifies sector expansion, while one below 50 points to contraction, according to the China Federation of Logistics and Purchasing (CFLP).
CFLP’s chief economist He Hui credited the upturn to the influence of policy incentives and the gradual rebound of market demand and predicted that the logistics sector is poised for continued recovery.
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