China's logistics activity moderates in February

2021-03-07 06:00:56 GMT2021-03-07 14:00:56(Beijing Time) Xinhua English

BEIJING, March 7 (Xinhua) -- China's logistics activity slowed in February due to the impact of the Spring Festival holiday, industry data showed.

The logistics performance index came in at 49.8 percent last month, retreating from 54.4 percent in January, according to the China Federation of Logistics and Purchasing.

A reading above 50 percent indicates expansion while a reading below reflects contraction.

He Hui, director of the China Logistics Information Center, attributed the slowdown to cyclical factors such as the Spring Festival holiday amid strengthened regulations on cold-chain logistics.

The employment sub-index for the sector retreated to 45 percent last month, down 5.2 percentage points from a month earlier.

The sub-index for new orders stood at 50.4 percent while that for business expectation came in at 65.8 percent, indicating that logistics activity is likely to see stable expansion as the new production season approaches. Enditem

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