China's warehouse storage sector continues to expand in November

2019-12-03 03:44:06 GMT2019-12-03 11:44:06(Beijing Time) Xinhua English

BEIJING, Dec. 2 (Xinhua) -- China's warehouse storage sector continued to see robust activities in November, industrial data showed.

The index tracking the sector's development climbed by 3.5 percentage points over the previous month to reach 54.4 percent in November, according to the China Federation of Logistics and Purchasing.

A reading above 50 percent indicates expansion, while one below 50 percent reflects contraction. The index had stayed above the boom-or-bust line for four consecutive months.

Booming e-commerce activities were reported last month as many Chinese consumers went on a shopping spree during an annual online shopping festival.

The sub-indices for business volume, inventory turnover and profits all increased over October.

The warehouse storage market is expected to remain steady growth as the new orders and business prospects sub-indices stayed in the expansionary field.