BEIJING, Nov. 4 (Xinhua) -- China's warehouse storage sector has seen sustained expansion for the ninth straight month, despite short-term fluctuations in growth in October, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.
The index tracking the sector's development stood at 50.9 percent in October, down 2.6 percentage points from September, but was still in the expansion zone above 50 percent, the survey showed.
The dip in the growth rate of the October reading can be attributed to a higher base from the previous month, but the sector's overall sound momentum remains unchanged, said Wang Yong, vice president of CMST Development Co., Ltd.
The sub-index of business activity expectation maintained a high level of prosperity within the expansion zone at 56.6 percent in October, reflecting upbeat expectations of businesses toward future prospects, according to Wang.
Wang believes that as pro-growth policies are further implemented, and investment and consumption demand continue to be released, there is still room for growth in the warehousing industry, and it is likely to sustain its positive development trend.
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