China Federation of Logistics and Purchasing: The storage index in China in August was 49.3%, a decrease of 0.8 percentage points from the previous month.

According to a joint survey by the China Federation of Logistics and Purchasing and China Merchants Development Co., Ltd., the warehousing index in China in August 2025 was 49.3%, a decrease of 0.8 percentage points from the previous month, falling below 50% after running in the expansion zone for nine consecutive months, indicating some fluctuations in the industry's operation. Sub-index changes show that due to the impact of high temperatures, rainy weather, and the off-season in some bulk commodity markets, the demand for warehousing business is relatively sluggish, the turnover speed of goods has slowed down, and inventory levels remain stable. The business activity expectation index continues to rise in the expansion zone, reflecting companies' confidence in the future. Specifically, the characteristics of the August index are as follows: Demand is relatively insufficient, and the workforce has decreased. In August, the new orders index was 49.5%, a decrease of 0.5 percentage points from the previous month. The index change shows that there is a relative lack of business demand, the number of new orders has decreased compared to the previous period, and the warehousing industry is under pressure. For specific categories, steel is affected by the off-season in the market, with a significant decrease in the new orders index; the food new orders index has been below 50% for two consecutive months. Additionally, the workforce has also decreased, with the employee index at 48.4%, a decrease of 2.1 percentage points from the previous month. Turnover speed is slowing down, while inventory remains stable. In August, the average inventory turnover index was 48.9%, still below 50%; the end-of-month inventory index was 50%, a decrease of 1 percentage point from the previous month. The index change shows that weather factors restrict the efficiency of inbound and outbound operations, coupled with weak end demand, resulting in a slowdown in the turnover speed of goods. However, inventory levels remain stable, laying the foundation for the recovery of market demand in the future. In terms of specific categories, the inventory of non-ferrous metals has risen significantly. Companies are confident, with positive expectations for the future. In August, the business activity expectation index was 54.8%, an increase of 2.5 percentage points from the previous month, showing a significant increase in the expansion zone and indicating that companies have an optimistic outlook for the future, with sufficient confidence. As we enter September, with the end of hot and rainy weather and the arrival of the Mid-Autumn Festival and National Day holidays, outdoor construction operations are orderly resuming, and consumer spending is seeing a boost, which may lead to a concentrated release of warehousing business demand, with the industry expected to gradually recover and improve.