China’s logistics sector growth slows

Beijing, Dec 5: China’s logistics sector growth slowed in November compared to the previous month, the authorities said Thursday.

The logistics performance index (LPI) for November shrank to 53 percent, down 0.6 percentage points from October but still in expansion territory, Xinhua cited from China Federation of Logistics and Purchasing (CFLP) data.

A reading above 50 percent indicates expansion from the previous month, while below 50 percent indicates contraction.

He Hui, deputy director of the China Logistics Information Centre, said despite the slowed expansion, there was still strong demand for logistics services and the sector will grow in a stable way.

The federation began collecting LPI data from more than 300 logistics companies in December 2011. Since then, the index has stayed above 50 percent.

IANS