Home breadcru News breadcru Logistics breadcru China's logistics price index at 102.5 after 0.68% drop in Jul 2023

China's logistics price index at 102.5 after 0.68% drop in Jul 2023

07 Aug '23
1 min read
Pic: Shutterstock/watt indeed
Pic: Shutterstock/watt indeed

Insights

  • China's road logistics price index in July 2023 recorded a slight MoM rise of 0.1 per cent, standing at 102.5, amidst a YoY drop of 0.68 per cent.
  • The full-truckload logistics sub-index echoed this trend, with a 0.15 per cent MoM rise and a 0.68 per cent YoY fall.
  • The data has predicted the index to show low-level fluctuations in the future.
In July 2023, China’s road logistics price index showed a modest increase, fuelled by an uptick in market demand. Registering at 102.5, the index saw a month-on-month (MoM) rise of 0.1 per cent, despite a year-on-year (YoY) dip of 0.68 per cent.

Notably, the sub-index for full-truckload logistics, a measure primarily of bulk commodity and regional transportation, saw a similar trend. It too increased by 0.15 per cent MoM, while decreasing by 0.68 per cent YoY, according to joint survey data by the China Federation of Logistics and Purchasing and the Guangdong Lin'an Logistics Group.

The survey suggested the index is likely to exhibit low-level fluctuations in the future. This prediction factors in the impact of adverse weather conditions and high temperatures across multiple regions, which are expected to hamper road transportation.

ALCHEMPro News Desk (NB)

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