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China’s logistics activities remain stable in June

Updated: Jul 2,2018 1:52 PM     Xinhua

BEIJING — China’s logistics activities remained stable in June as the economy continued to stabilize and improve, industry data showed on July 2.

The logistics performance index for June came in at 54.9 percent, slightly retreating from 56.1 percent in May, according to the China Federation of Logistics and Purchasing.

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

“Despite the slight retreat, the index still maintains a high level that reflects continued active performance in the industry,” said He Hui, deputy head of the China Logistics Information Center.

The subindex for new orders expanded to 52.8 percent, down from 54.5 percent in May, while that for business expectation came in at 58.1 percent, indicating that logistics activity is likely to slow down in the future, according to the federation.

China’s economy delivered a solid start to the year with above-target growth. Its GDP expanded 6.8 percent year-on-year in the first quarter, unchanged from the previous quarter.

The country’s manufacturing purchasing managers’ index came in at 51.5 in June, above the boom-bust line of 50, according to the National Bureau of Statistics.