The Zhitong Finance App learned that on December 4, China's warehousing index, jointly surveyed by the China Federation of Logistics and Purchasing and China Storage Development Co., Ltd., was 52.2% in November 2023, up 1.3 percentage points from the previous month. Looking at the sub-indices, compared with the previous month, the new order index, business profit index, average inventory turnover index, and enterprise employee index rose between 1.3 and 3.3 percentage points; the main business cost index, year-end inventory index, and business activity expectations index declined, falling between 1.2 and 2.3 percentage points.

Wang Yong, vice president of China Storage Development Co., Ltd., believes that the warehousing index rebounded slightly in November and remained in the expansion range for 10 consecutive months, indicating that the warehousing industry has maintained a good operating trend. Subindices such as new orders, business profits, average inventory turnover times, and enterprise employees have all increased markedly, indicating that upstream and downstream demand in the industry is picking up further, warehousing business activities are active, commodity turnover efficiency continues to improve, and corporate profits have improved. Looking at the later stage, the business activity expectations index is still running at a high level, indicating that business confidence is sufficient. As various measures and policies to expand domestic demand and promote the development of the private economy continue to gain strength, there is still room for growth in demand for warehousing business, and the industry will maintain steady and positive development.

The New Orders Index was 53%, up 3.3 percentage points from the previous month. By category, the index of new orders for building materials, food, clothing, textiles, pharmaceuticals, etc. is above 50%, and the index of new orders for steel, chemical products, minerals, and household appliances is below 50%.

The inventory index at the end of the period was 50.6%, down 1.2 percentage points from the previous month. In terms of variety, the end-of-period inventory index for varieties such as food, clothing, textiles, home appliances, and daily necessities was above 50%, while the end-of-period inventory index for steel, non-ferrous metals, chemical products, building materials, and mineral products was below 50%.

The average inventory turnover index was 52.2%, up 1.8 percentage points from the previous month. By type, the average inventory turnover index for steel, non-ferrous metals, chemical products, building materials, food, clothing, textiles, home appliances, daily necessities, pharmaceuticals, etc. is higher than 50%, and the average inventory turnover index for types such as machinery, equipment, cotton and linen is less than 50%.

The business profit index was 50.3%, up 2 percentage points from the previous month. The main business cost index was 52.7%, down 2.3 percentage points from the previous month. The corporate employee index was 53%, up 1.3 percentage points from the previous month. The business activity expectations index was 55.2%, down 1.4 percentage points from the previous month.

This article was compiled from “China Federation of Logistics and Purchasing”, Zhitong Finance Editor: Yang Wanlin.