BEIJING: The index tracking the development of the bulk commodity market of China edged up in August, driven by strengthened policy support and growing confidence in market demand, industry data revealed.
The China Bulk Merchandise Index stood at 102.7% in August, up 0.4 percentage points in contrast to that registered in July, China Federation of Logistics and Purchasing said.
A reading above one hundred indicates expansion, while a reading below one hundred reflects contraction.
The sub-index for bulk commodity supply went up by 0.8 percentage points from the previous month, bucking the contraction trend. This indicates the optimistic outlook of manufacturers for the market, according to the federation, according to Xinhua.
It also underlined the strengthening market demand, noting a month-on-month (MoM) increase of 0.1 percentage point in the sub-index for bulk freight sales.
China’s Bulk Commodity Market Likely to Further Improve
The federation said that China’s bulk commodity market is likely to improve further in September, with the support of a series of macro policies and the onset of the construction peak season.
