Daily Times

China’s home appliance industry reported steady output growth in the first two months of the year, according to the latest data from the Ministry of Industry and Information Technology. China’s output of refrigerators for home use rose 7.9 percent year on year to 13.21 million units during the January-February period, according to the data. The output of room air conditioners jumped 10.8 percent year on year to nearly 33.31 million units, while production of washing machines reached 14.08 million units, up 1.8 percent from a year earlier. Meanwhile, China’s logistics sector reported steady growth in March as measures to boost consumption and stabilize demand paid off, industry data showed. The index tracking the country’s logistics market performance stood at 55.5 percent in March, up 5.4 percentage points from February, according to the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion, while a reading below 50 reflects contraction. The sub-index for business activity expectations reached 58.1 percent in March, expanding for a fourth consecutive month, indicating that logistics firms had an optimistic view of the sector’s future development.