Beijing, China’s logistics activity remained stable in January as the economy showed signs of stabilizing, according to an industry report.
The logistics performance index (LPI) for January came in at 52.5, down 3.5 points from a month earlier, according to the China Federation of Logistics and Purchasing.
A reading above 50% indicates expansion from the previous month, while a reading below indicates contraction.
He Hui, deputy director of the China Logistics Information Center, attributed the decline to the influence of Spring Festival, but also stressed that the sector was stable, as the index was above 50%.
The federation began collecting LPI data from more than 300 logistics companies in December 2011, China’s News Agency (Xinhua) reported.
Since the start of the year, positive changes and bright spots continue to grow in the Chinese economy, a sign the economy is stabilizing amid an uncertain global outlook.
China’s manufacturing sector has expanded for the sixth month in a row with the country’s manufacturing purchasing managers’ index coming in at 51.3 in January, according to National Bureau of Statistics data released February 1.
Source: Qatar News Agency