CHINA’S warehouse storage sector expanded for a sixth consecutive month in July, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co. Ltd. yesterday.

The index tracking the sector’s development stood at 52.2% last month, up 1.5 percentage points from June, the survey showed.

A reading above 50% indicates expansion, while a reading below 50% reflects contraction.

The index remained in expansion territory for six months, which indicates that the warehouse storage sector maintained a good development momentum, said Wang Yong, vice president of CMST Development.

In July, the sub-index of business activity expectation reached 56.4%, a 2.7 percentage point increase from the previous month, maintaining a high level of prosperity within the expansion zone, the data showed.

“Main sub-indexes, such as the business volume, facility utilization rate, end-of-month inventory, and business activity expectations, have all shown noticeable improvements last month,” Wang said, adding that enterprises in the sector had ample confidence for future market performance. (Xinhua)