Global Freight Volumes Confirm Stagnation and Indicate Near-Term Decline

Global FreightThe latest global freight data through September 2011 highlight concerns over macroeconomic stagnation:

 - Freight volumes, measured in tonnes of goods moved, indicate a macroeconomic stagnation. External trade by sea in the EU-27 and the USA have stagnated below pre-crisis levels (-4%, -5%);

 - EU-27 and USA trade by air, considered as a lead indicator, suggests near-term decline. Exports by air in the EU-27 fall back at their pre-crisis (June 2008) levels;

- USA and EU-27 exports by sea to Asia (especially China) improved since Jun-11. However, trade by air faltered as exports stagnated and imports declined, contributing to the sense of weakening domestic demand;

- Inland freight transport volumes continued to recover, albeit slowly for road freight in Europe.

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