China Logistics Slammed by Covid Spike
China’s logistics business shrank for the third consecutive month in December as a swell in Covid-19 cases lashed the workforce in the sector and wreaked havoc on industrial production.
The prosperity index for the logistics industry hit 46% last month, falling from 46.4% in November and 48.8% in October, making it the second-lowest level in 2022, the China Federation of Logistics and Purchasing (CFLP) said Wednesday. The reading marked a steep 6% decrease year-on-year.
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