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China's warehouse storage sector index rises by 0.8% MoM in Sept 2022

13 Oct '22
1 min read
Pic: Shutterstock/ Unique Vision
Pic: Shutterstock/ Unique Vision

China’s warehouse storage sector index increased by 0.8 per cent month-on-month (MoM) to reach 52 per cent in September 2022 and the rest in the expansion zone for a fifth consecutive month.

The sub-index that rates projections for business activities of the sector jumped 0.5 per cent from August to stand at 55 per cent in September, reflecting a positive outlook for companies in the sector, according to a joint survey carried out by the China Federation of Logistics and Purchasing and CMST Development Co Ltd.

A reading of less than 50 per cent shows contraction, while a reading higher than 50 per cent points towards expansion. The development of the sector is anticipated to continue in the fourth quarter of 2022 thanks to e-commerce consumption and infrastructure investment, the federation added.

Fibre2Fashion News Desk (NB)

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