BEIJING, May 9 (Xinhua) -- China's warehouse storage sector continued its expansion in April, with the growth rate picking up from the previous month, industry data shows.
The index tracking the sector's development rose 2.3 percentage points over the previous month to hit 55 percent in April, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.
A reading above 50 percent indicates expansion, while one below 50 reflects contraction.
As China's economy continues its stable recovery, business activities in the warehouse storage sector saw an apparent expansion, according to the survey.
The sub-index for inventories at the end of the month rose 0.9 percentage points to 56.2 percent, with minerals, construction materials and chemical products reporting large inventory increases.
The sub-index for new business orders grew 4 percentage points from the previous month to 57.5 percent, and the sub-index for business activity expectations stood at 62.7 percent.
New growth drivers and consumption activities are gaining steam, sustaining the demand for warehouse storage businesses. The survey noted that the warehouse storage sector will maintain its stable expansion in the near future. Enditem
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