WORLD trade expected to grow over the next three months, but at a slower pace, according to the three-month forecast from DHL's Global Trade Barometer
WORLD trade expected to grow over the next three months, but at a slower pace, according to the three-month forecast from DHL's Global Trade Barometer. The index for global trade now stands at 63 points. This is a decline of four points on the previous quarter's forecast, indicating an overall slightly slower pace of growth, reports the American Journal of Transportation.
'After months of bright prospects in world trade, we are moving into more normal and cooler, but still nice, temperatures', said DHL Global Forwarding chief Tim Scharwath.
'Despite rising political tensions among global players over trade-related issues, the DHL Global Trade Barometer indicates solid positive growth for world trade in the coming three months,' he said.
The index value above 50 indicates positive growth, while values below 50 indicate contraction.
The overall value declined eight points to 62. Global ocean trade fell one point to 63.
India as the only country with simultaneously increasing and very high prospects for trade growth, the UK was unchanged, and all other countries had slightly diminishing prospects.
India's trade outlook improved by four points to 83, which is the highest index value of all index constituents. The UK was unchanged at 57.
US growth prospects slowed five points to 63. China was down four points to 59. South Korea was down five points to 69. Germany fell six points to 58 and Japan was down by three points to 64.
Launched in January 2018, the DHL Global Trade Barometer is a new and unique early indicator for the current state and future development of global trade. It is based on large amounts of logistics data that are evaluated with the help of artificial intelligence.
The indicator has been developed in cooperation between DHL, the world's leading logistics company, and IT service provider Accenture. It is published four times a year. The next release date is November 28.
