China’s bulk commodity index edges up in August

BEIJING - The index tracking the devel­opment of China’s bulk commodity market edged up in August driven by strengthened policy sup­port and growing confi­dence in market demand, industry data showed. The China Bulk Merchan­dise Index stood at 102.7 percent last month, up 0.4 percentage points compared with that reg­istered in July, according to the China Federation of Logistics and Purchas­ing. A reading above 100 indicates expansion, while a reading below 100 reflects contraction. The sub-index for bulk commodity supply rose 0.8 percentage points from the previous month, bucking the trend of con­traction. This indicates manufacturers’ optimistic outlook for the market, according to the federa­tion. It also highlighted the strengthening market demand, noting a month-on-month increase of 0.1 percentage point in the sub-index for bulk freight sales. China’s bulk com­modity market is expected to further improve in Sep­tember, with the support of a series of macro policies and the onset of the con­struction peak season, ac­cording to the federation.

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