China Federation of Logistics and Purchasing: China's logistics industry sentiment index in October was 51.2%, down 0.3 percentage points from month to month

The Zhitong Finance App learned that the China Logistics Industry Sentiment Index for October 2026 released by the China Federation of Logistics and Purchasing was 51.2%, down 0.3 percentage points from the previous month. The logistics industry sentiment index continued to expand in October. Among them, the total business volume index, new order index, average inventory index, capital turnover index, logistics service price index, fixed asset investment completion index, employee index, and business activity expectations index were in the boom range. The new orders index, main business profit index, capital turnover index, fixed asset investment completion index, and employee index rebounded month-on-month.

The total business volume index has recovered somewhat, and overall demand continues to expand. The total business volume index was 51.2%, down 0.3 percentage points from month to month. By region, the total business volume index for the eastern, central and western regions was 51.1%, 50.8%, and 51.4%, respectively, all of which declined somewhat from month to month. The release of new demand accelerated. The new orders index was 51.5%, up 0.3 percentage points from month to month, but there was regional differentiation. The new orders index in the eastern region declined slightly from month to month. The new orders index for the central region and the western region was 52% and 49.5%, respectively, up 0.4 and 1.6 percentage points, respectively.

Logistics demand in the consumer sector has a long span, and the postal express business is growing strongly. The total business volume index of the postal express industry is continuously higher than 65%. This month is the traditional peak season for e-commerce promotions and consumer spending, and the impact on this is obvious. First, holiday travel is closely linked to consumer promotion activities. Activities such as trade-ins, state allowances, and full discounts continue to be launched, combining self-driving tours, family visits, and leisure purchases to fully unleash consumption potential. Second, the total volume of consumer logistics is stable, has sufficient momentum, and continues to gain strength. From the beginning of the summer joint school season to Gold, Nine, and Silver, it showed characteristics such as a large span of hot spots, many categories, and a long continuous cycle. Road transportation and main line transportation, driven by consumption and online shopping, continued to grow steadily, and the total business volume index of the postal express industry was above 65% for four consecutive months.

The field of professional logistics has been divided, and the overall stability has partially declined. Demand has generally continued to expand, and most industries have stabilized, but there has been a recovery in the fields of warehousing logistics and aviation logistics. Judging from changes in rent prices, the warehouse rents of research companies have maintained a weak balance and a steady downward pattern in recent months. With the end of the seasonal logistics business in the early stages, the total volume of aviation logistics business and demand orders recovered. The total air transport business volume index in October was 50.2%, down 0.7 percentage points from the previous month.

Logistics companies are operating steadily, and the profit index has rebounded somewhat. The company reported that fuel costs, management costs, etc. are still rising rigidly, but the increase has slowed down, which is conducive to the resilient operation of enterprises and the improvement of profitability. In October, the profit index of the main business of logistics companies was 47%, up 0.3 percentage points from month to month. Among them, the postal express industry, air transport industry, and water transport industry fell 0.1-0.3 percentage points, while the main business profit indices in the railway transportation industry, road transport industry, and multimodal transport sector rebounded 0.5, 0.2, and 0.3 percentage points, respectively. Looking at the scale, the main business profit index of large, medium, and micro enterprises all rebounded slightly.

The trend of investment in logistics infrastructure is stable, and business expectations are improving. In October, the fixed asset investment completion index was 55.4%, maintaining an expanding trend. By industry, with the exception of water transportation, the fixed asset investment completion index for the railway transport industry, road transport industry, air transport industry, multimodal transport sector, and postal express delivery industry are all above the boom and dry line. Among them, the fixed asset investment completion index for the railway transportation industry, multimodal transport sector, and postal express delivery industry is above 55%. Judging from corporate research, investment trends are mainly in the three key dimensions of digital intelligence, green substitution, and global layout, but each has hidden concerns. In terms of digital intelligence, as deployment and deployment costs decrease, enterprise AI scheduling and unmanned intelligence investment continue to increase, but the risk of iterative costs and sinking costs cannot be ignored. On the green side, investment in low-carbon technology is gradually increasing the scope of replacement of traditional equipment, but the pace and progress of replacement due to policy changes will cause investment losses. In terms of globalization, models such as overseas warehouse layout is speeding up, self-built mergers and acquisitions, and joint alliances are becoming mature, but homogenized internal competition cannot be ignored. The expected index of corporate business activity was 55.3%, which was in a high boom range of more than 54% for 3 consecutive months, reflecting the company's optimistic expectations for the end of the year.

Overall, the logistics sentiment index continued to expand this month, new orders have picked up, market expectations are positive, and logistics is expected to maintain a steady development trend throughout the year.