Rising logistics demand amid warming economy

China on Thursday reported steady growth in logistics demand in the first 10 months as the economy gradually warmed.

During the January-October period, goods worth 163.3 trillion yuan (26.6 trillion U.S. dollars) were moved around, marking a 9.6-percent growth from the same period last year, according to data released by the China Federation of Logistics and Purchasing (CFLP).

The rate rose 0.1 percentage point from that seen in the first three quarters of the year, the federation noted.

The rising demand has led to an increase in employment in the sector. In October, the employment index in logistics came in at 51.3 percent, marking the third consecutive month of gains above 50 percent, according to the CFLP.

Costs in the logistics sector rose 9.2 percent year on year to 7.9 trillion yuan, rebounding 0.1 percentage point from the growth in the first nine months.

Earlier data showed China's manufacturing activity at an 18-month high last month, with the purchasing managers' index rising to 51.4 percent, confirming that the country's economy is gaining strength after a slowdown early this year.