China's bulk commodity index edges down in July

BEIJING -- The index tracking the development of China's bulk commodity market edged down in July, but logged better performance in terms of off-season consumption, industry data showed.

The China Bulk Merchandise Index stood at 102.3 percent last month, down 0.5 percentage points compared with that registered in June, according to the China Federation of Logistics and Purchasing.

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

The federation highlighted the better performance of China's bulk commodity market during this year's off-season for consumption, which covers June and July.

Domestic demand remained relatively stable with the support of a raft of policies aimed at bolstering consumption and expanding investment, it said, noting that market supply and demand became more balanced in July.

The federation expected China's bulk commodity market to continue stable recovery in August.