China's logistics sector less upbeat in October

BEIJING - China's logistics sector was less upbeat in October due to the recent COVID-19 resurgence, industry data showed.

The index tracking the country's logistics market performance stood at 48.8 percent 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 percent 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 percent, 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.