China's warehouse storage industry remained in the expansion range for the second consecutive month in April, signaling steady development and strong market vitality, industry data showed Saturday.
The index tracking the sector's development came in at 51 percent, according to the China Federation of Logistics and Purchasing.
A reading above 50 percent indicates expansion, while a reading below 50 percent reflects contraction.
Major sub-indices for new orders, facility utilization rates, and ending inventories all stayed in expansionary territory, while the average inventory turnover index remained at a high level of prosperity. These readings point to steady growth in warehousing demand, efficient cargo turnover, and smooth supply chain linkages.
By product category, the busy production and construction season pushed up demand for bulk commodities such as chemicals, coals, and machinery equipment. Meanwhile, stockpiling for the Labor Day holiday in early May fueled a significant rise in consumer goods warehousing, including food, home appliances, and agricultural products.
The business activity expectation index for April stood at 55.1 percent, still at an elevated level, reflecting that businesses remain optimistic.
China's warehouse storage sector maintains expansion in April
