China logistics activity growth slows in August

The growth of China's logistics activities slowed in August amid downward pressure in the economic recovery, according to the China Federation of Logistics and Purchasing on Friday.

The logistics performance index (LPI) for August came in at 54.1 percent, down 2.7 percentage points from a month earlier.

A reading above 50 percent indicates expansion from the previous month, while a reading below indicates contraction.

In breakdown, the index for new orders stood at 54.2 percent, retreating 1.8 percentage points from that in July.

He Hui, deputy director of the China Logistics Information Center, said the indices showed the economy is stable but there is downward pressure.

Earlier statistics showed that the purchasing managers' index (PMI) came in at 51.1 in August, down from July's 51.7, indicating subdued momentum in the country's economic recovery.