Core Viewpoint - The China Warehousing Index fell to 49.3% in August 2025, indicating a contraction in the warehousing sector due to extreme weather and seasonal demand fluctuations for certain commodities [1] Group 1: Index Performance - The Warehousing Index dropped by 0.8 percentage points from July, marking a return to the contraction zone after nine months of expansion [1] - The New Orders Index decreased to 49.5%, down 0.5 percentage points from July, with mixed performance across different commodities [1] - The Ending Inventory Index remained stable at 50%, but decreased by 1 percentage point from July [2] Group 2: Demand and Supply Chain Dynamics - The average inventory turnover index and business activity expectation index increased by 0.4 percentage points and 2.5 percentage points, respectively, indicating a potential recovery in market demand [2] - Despite the decline in new orders, ending inventory, and employee indices, the average inventory turnover index remains below 50, reflecting a sluggish warehousing demand and slower supply chain turnover [2] - Analysts expect that with the end of extreme weather and upcoming holidays, there may be a release of pent-up demand in the warehousing sector, leading to a more stable and positive operational trend [2]

Core Insights - The China Warehousing Index for August 2025 is at 49.3%, a decrease of 0.8 percentage points from the previous month, indicating a contraction in the warehousing sector [1] - Factors such as extreme weather and the off-season for certain commodities have led to insufficient demand for warehousing services, contributing to the decline in the index [1] - Despite the overall decline, the business activity expectation index has risen significantly, suggesting optimism for future demand as seasonal factors change [1] Index Summaries - The new orders index stands at 49.5%, down 0.5 percentage points from last month, with various sectors showing mixed results; non-ferrous metals, machinery, and pharmaceuticals have indices above 50%, while steel, food, and daily necessities are below 50% [1][2] - The ending inventory index is at 50%, a decrease of 1 percentage point, with steel, non-ferrous metals, and machinery having indices above 50%, while minerals, food, home appliances, and daily necessities are below 50% [2] - The average inventory turnover index is at 48.9%, an increase of 0.4 percentage points, with minerals and pharmaceuticals above 50%, while steel, non-ferrous metals, and home appliances are below 50% [2] - The enterprise employee index is at 48.4%, down 2.1 percentage points, indicating a reduction in workforce levels in the sector [2] - The business activity expectation index is at 54.8%, an increase of 2.5 percentage points, reflecting increased confidence among businesses regarding future operations [2]

Core Insights - In August, China's warehousing index stood at 49.3%, a decrease of 0.8 percentage points from the previous month, indicating a contraction in the sector [1] - The business activity expectation index showed a significant recovery, rising to 54.8%, reflecting increased confidence among enterprises regarding future market conditions [1] Index Breakdown - The average inventory turnover index and business activity expectation index increased by 0.4 percentage points and 2.5 percentage points, respectively, compared to the previous month [1] - Conversely, the new orders index, ending inventory index, and enterprise employee index declined, with decreases ranging from 0.5 percentage points to 2.1 percentage points [1] Market Analysis - The decline in the warehousing index is attributed to recent extreme weather and the off-season for certain bulk commodities, leading to insufficient demand for warehousing services [1] - Despite the overall pressure on the industry, the recovery in the business activity expectation index suggests a more optimistic outlook for the future, particularly with the end of adverse weather conditions and upcoming holidays expected to boost consumer demand [1]

Core Viewpoint - The China Logistics and Purchasing Federation reported a decline in the warehouse index for August due to adverse weather and seasonal factors, but there is optimism for future business activity as indicated by the rising business activity expectation index [1][3]. Group 1: Warehouse Index and Demand - The warehouse index for August is 49.3%, a decrease of 0.8 percentage points from the previous month [3]. - The new orders index for steel storage has significantly decreased due to seasonal market effects, while the food storage new orders index has remained below 50% for two consecutive months [3]. - Weather conditions have hindered the efficiency of inbound and outbound operations, leading to a slowdown in goods turnover, although inventory levels remain stable, which supports future market demand recovery [3]. Group 2: Future Outlook - The business activity expectation index for August is 54.8%, an increase of 2.5 percentage points from the previous month, indicating a rise in optimism among enterprises regarding future market conditions [3]. - Experts predict that with the end of adverse weather and the upcoming Mid-Autumn and National Day holidays, outdoor construction activities will resume, and consumer spending will be boosted, leading to a concentrated release of warehouse business demand [5].

Core Viewpoint - The Chinese warehousing index for June is 51%, indicating continuous expansion for eight months, reflecting a positive trend in the warehousing industry [1] Summary by Categories Overall Index Performance - The warehousing index for June stands at 51%, which is an increase of 0.5 percentage points from the previous month, maintaining a position in the expansion zone [1] Sub-index Performance - New orders index for June is 51.6%, up by 0.7 percentage points from last month, indicating active demand in warehousing services and continued growth in new order volume [1] - Key sub-indices such as average inventory turnover, business profits, and business activity expectations have also shown recovery [1] Sector-specific Insights - Demand for warehousing services in consumer goods is particularly strong, with significant increases in new orders for categories like food, home appliances, and agricultural products [1]

Core Viewpoint - The China Warehousing Index for May 2025 is reported at 50.5%, a slight decrease of 0.2 percentage points from April, indicating a stable expansion in the warehousing industry despite the decline [1][3]. Summary by Categories Warehousing Index - The China Warehousing Index remains above 50% for the year, reflecting a stable and positive operational trend in the warehousing sector [1][3]. New Orders - The new orders index for May is at 50.9%, down 1.5 percentage points from April. Various categories such as steel, machinery, and food have new orders indices above 50%, while categories like non-ferrous metals and pharmaceuticals are below 50% [1][2]. Facility Utilization - The facility utilization index increased to 54.1%, up 2.9 percentage points from April. Categories such as steel, chemicals, and food show utilization rates above 50%, while non-ferrous metals and home appliances are below this threshold [1][2]. Inventory Levels - The ending inventory index is at 48.1%, an increase of 2 percentage points from April. Categories like steel and daily necessities have indices above 50%, while non-ferrous metals and agricultural products are below [2]. Inventory Turnover - The average inventory turnover index is at 52.4%, down 0.8 percentage points from April. Most categories maintain turnover indices above 50%, indicating efficient goods turnover [2]. Pricing and Employment - The pricing index for services is at 50.9%, up 0.3 percentage points from April. The employee index is at 51.4%, down 1 percentage point, while the business activity expectation index is at 52.8%, down 0.9 percentage points [2]. Future Outlook - The warehousing sector is expected to continue its stable growth due to the implementation of economic stabilization policies, with demand anticipated to remain steady [3].

Core Viewpoint - The Chinese warehousing index for April is reported at 50.7%, indicating continued expansion for six consecutive months, reflecting a positive start to the second quarter [1] Group 1: Index Performance - The warehousing index has remained in the expansion zone for six months, with a slight decrease of 0.1 percentage points from the previous month [1] - The new orders and employment indices have shown significant increases, indicating sustained market demand and improved employment absorption capacity [1]