China's logistics sector rebounds

Top Stories

»	Crude oil drops over 5 pc this week, hovers above $100 amid global uncertainty
»	All fuel outlets operating normally, rapid rollout of PNG connections underway: Centre
»	Sensex, Nifty climb one pc amid ceasefire hopes; oil price drops 7 pc
»	Gold, silver plunge up to 6 pc on global weakness, rupee hits 93.84 against US dollar
»	Global oil prices fall up to 3 pc as US signals easing of Iran crude sanctions

IANS | 09 Apr, 2013
The performance of China's logistics industry rebounded in March after declining for three consecutive months, according to an index released Monday.

The China Federation of Logistics and Purchasing said in a statement that the Logistics Performance Index (LPI) for March rose 5.5 percentage points from the previous month to 55.9 percent, reported Xinhua.

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

"The declines in January and February were mainly due to seasonal factors," the statement said.

As the weather became warmer last month, industrial production and construction got back on track, driving up demands in the logistics sector, the statement said.

The federation began collecting LPI data from more than 300 logistics companies in December 2011. Since then, the index has stayed above 50 percent.