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China warehousing demand rebounds in August to four-month high: survey

2019-09-08 10:19

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BEIJING, Sept. 8 (Xinhua) -- China's warehousing demand rebounded in August after three months of decline, indicating the downward pressure of the industry has been alleviated, a survey showed.

The China warehousing index, jointly surveyed by the China Logistics and Purchasing Federation and CMST Development Co., Ltd., was 54.3 percent in August, up 4.5 percentage points from last month, ending three consecutive months of decline, returning to more than 50 percent of the expansion range, and reaching a four-month high.

First released in 2014, the index tracks the operation conditions of the domestic warehousing sector as well as the supply and demand of major commodities. A reading above 50 indicates expansion while a reading below 50 means contraction.

All sub-indices remained in the expansion range, and new orders, business volume, inventory turnover times and other indexes rebounded significantly.

Business demand has rebounded. In August, the business volume index was 58.8 percent, up 8.1 percentage points from the previous month, reaching a five-month high.

The demand for warehousing business has rebounded obviously, the survey showed. The main reason is that, on the one hand, due to the increasing downward pressure of macro-economy and the impact of typhoon in August, the market demand is insufficient, the construction and transportation of construction sites are blocked, the inventory level rises, and the demand for warehousing business is boosted.

On the other hand, the market is expected to usher in the peak season, enterprises actively stock up, warehousing industry orders rose significantly.

In terms of varieties, the business volume of steel, building materials and chemical products has rebounded remarkably. The business volume of food, clothing and household appliances in the category of living materials has led the rise.

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