China's logistics sector less upbeat in October

China's logistics sector was less upbeat in October due to the recent COVID-19 resurgence, industry data showed. This was reported by The Xinhua News Agency.

The index tracking the country's logistics market performance stood at 48.8% last month, down 1.8 percentage points from September, according to the China Federation of Logistics and Purchasing (CFLP).

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

The sub-index for new orders came in at 48.5% last month, down 1.6 percentage points from September, showing that the logistics market demand still needs to be released.

In October, the sub-index for business activity expectations reached 53.8%, indicating that the logistics sector is expected to regain growth momentum under the premise that the COVID-19 epidemic is effectively controlled, according to the CFLP.