China's logistics activities ease in August

BEIJING -- China's logistics activities eased in August partly due to the hot and rainy summer weather and COVID-19 outbreaks in some regions.

The index tracking the country's logistics market performance stood at 46.3 percent in August, down 2.3 percentage points from July, according to the China Federation of Logistics and Purchasing.

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

In August, the sub-index for new orders was 46.9 percent, down 3 percentage points from July, indicating that the recovery of the country's production and consumption demand still lacked momentum.

The sub-index for business activity expectations reached 54.2 percent, showing that logistics firms had an optimistic view of the sector's future development.