China's bulk commodity index up in December 2022

BEIJING, Jan. 14 (Xinhua) -- The index tracking the development of China's bulk commodity market reversed its declining trend in December 2022, industry data shows.

The China Bulk Merchandise Index stood at 101 percent during the period, up 0.8 percentage points over a month earlier, according to the China Federation of Logistics and Purchasing.

A reading above 100 indicates expansion, while a reading below 100 reflects contraction.

Sub-indices measuring bulk commodity supply and inventory both rose from the previous month, and the decline in bulk commodity sales narrowed in December.

The federation anticipates the domestic bulk commodity market will perform better in 2023.