China's logistics sector growth slows

BEIJING - China's logistics sector showed slower growth in November compared with the previous month, the China Federation of Logistics and Purchasing (CFLP) said on Thursday.

The logistics performance index (LPI) for November shrank to 53 percent, down 0.6 percentage points from October but still in expansion territory, according to new CFLP data.

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

He Hui, deputy director of the China Logistics Information Center, 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.