China's logistics demand recovers in April
Logistics demand in China improved in April as economic activities recovered following easing epidemic containment measures, official data showed.
The total value of social logistics in the January-April period fell 4.2 percent year on year to 75.3 trillion yuan (about 10.56 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing (CFLP).
The drop narrowed from the 7.3-percent slump seen in the first quarter.
In the first four months, total logistics costs came in at 3.9 trillion yuan, down 8.8 percent year on year.
The Logistics Performance Index stood at 53.6 percent in April, up 2.1 percentage points from March, according to the CFLP.
A reading above 50 percent indicates expansion, while that below it reflects contraction.
The rising logistics demand came as China's economic activities continued to normalize as the industrial output, retail sales and investment reported across-the-board improvements last month.
But with the global spread of the novel coronavirus, the recovery still faces many uncertainties and challenges, analysts warned.
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