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.
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