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Logistics activity stable in May

China's logistics activity remained stable in May as the economy continued to stabilize, official data showed. The logistics performance index for May came in at 57.7 percent, retreating 0.5 percentage points from a month earlier, according to the China Federation of Logistics and Purchasing. A reading above 50 percent indicates expansion from the previous month, while a reading below indicates contraction. In breakdown, the index for new orders stood at 57.4 percent, down 2.7 percentage points from that in April, which showed a slight fall in logistics demand during the period. On the outlook, although the index measuring business expectation pulled back, it stayed at a high level of 62.3 percent. He Hui, deputy head of China Logistics Information Center, expects logistics industry would gradually cool but maintain relatively fast expansion in coming months.