China's warehousing index: Major items fall sharply...down 2.8-5.5 from previous month = Chinese report

According to a survey jointly conducted by the China Logistics Purchasing Federation and China Storage Development Co., Ltd., China's warehousing index fell 2 points from the previous month to 46.5 in July.
By item, the main operating cost index, average inventory turnover index, employee index, and business activity forecast index increased by 0.1 to 1.5 points year-on-year.
The new orders index, operating profit index, and ending inventory index all fell by 2.8 to 5.5 points. The average inventory turnover index for July was 49.1, up 0.1 points from the previous year.
The average inventory turnover index for steel, minerals, daily necessities, cotton and linen was above 50, while the index for non-ferrous metals, chemical products, food, clothing, and home appliances was below 50.
The ending inventory index was 42.5, down 5.5 points from the previous year. By item, the ending inventory indexes for mineral products, clothing, daily necessities, cosmetics, etc. exceeded 50.
On the other hand, the indices for steel, non-ferrous metals, chemical products, food, and home appliances were below 50. The July warehousing index showed notable declines in the major indices, including the new orders index, operating profit index, and end-of-period inventory index.
Demand for warehousing has also fallen due to the hot and rainy weather and the off-peak season. However, the demand for consumer goods in China is relatively good, and the warehousing industry business activity forecast index has increased slightly.
The warehousing industry is expected to recover and resume stable operations in the future.