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Global air freight indicator makes for gloomy outlook: DHL

GLOBAL air cargo volumes have dropped by three points to a new low of 45, the DHL Global Trade Barometer (GTB) shows, and forecasts a further contraction in overall global trade for the next three months

Global air freight indicator makes for gloomy outlook: DHL

GLOBAL air cargo volumes have dropped by three points to a new low of 45, the DHL Global Trade Barometer (GTB) shows, and forecasts a further contraction in overall global trade for the next three months

03 December 2019 - 19:00

GLOBAL air cargo volumes have dropped by three points to a new low of 45, the DHL Global Trade Barometer (GTB) shows, and forecasts a further contraction in overall global trade for the next three months.

'Global trade continues to lose momentum, albeit mildly,' the DHL report noted. 'Against the previous updates, the downward tendency is largely moderate and steady, neither indicating an acceleration of the decline nor a bottoming out.'



Aside from India, all surveyed countries were affected by the deceleration and recorded indexes below the 50-points-threshold of no growth, London's Air Cargo News reported.



DHL Global Forwarding, Freight, CEO Tim Scharwath was quoted as saying: 'According to the DHL Global Trade Barometer, the year will probably end with moderate world trade.



'However, the rapid growth world trade has undergone in recent years was like climbing the Mount Everest. Now, we are on the descent, but we are still breathing altitude air.'



Japan and the UK recorded over this period the highest losses after achieving positive trade outlooks in the previous update in September.



'The declining indexes for China and the US, the two main drivers of global growth, portend a worsening global economic outlook. Overall, this GTB update paints a sobering picture of gloomy prospects for the world economy and global trade for the remainder of this year.'


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