The global thriftiness grew at a moderate though full-bodied pace in Q3 , keep open full - year growth in occupation with former expectation . outgrowth , however , is once again unbalanced across region and sectors . The inspection and repair sector remain the principal driver , while the fragile convalescence in manufacturing activity observe in the first half of the year came to a halt . The Global Manufacturing Purchasing Managers Index fell into contractionary territory in Q3 , averaging 49.4 . New monastic order plummeted , and inventories rose among manufacturers in the US and Europe .
When it comes to region , the US is still driving the world expansion . The Federal Reserve ’s move of 50bp cut cast out recession fears , and the US consumer is still affirmative , supported by a resilient labor market and continued pay gains . Total goods requirement was up 2.7 % class - over - year in July and August . Sticky core inflation and a late drop in consumer confidence are clouds on the horizon for US consumption but all in all , the first moment is to see continued racy economic growth .
Container trade wind remained strong in Q3 . Demand is forecast to have grown 4 - 6 % year - over - twelvemonth . exportation out of China and Southeast Asia make up a very large serving of such growth . signification acquire above average in Latin America and North America , while significance into Africa turned negative .
Ocean updateThe Drewry WCI composite index minify 4 % to $ 3,095 per FEU , which is 70 % below the previous pandemic peak of $ 10,377 in September 2021 , but 118 % more than the intermediate 2019 ( pre - pandemic ) of $ 1,420 . Some minimal congestion stimulate by the ILA three - twenty-four hour period strike in other October remains at US East Coast and Gulf ports though operations have mostly recovered . Some observers anticipate that the work stoppage will still lead to some capacity and equipment shortages at Asiatic origins in early November .
soil freightage updateNorth American flat coat freight envision a 0.3 % year - over - year bulk decline in July and August , though sign advise that the sector has stabilized , with contract truckload volume bear witness improvement . Truckload supply extend to expand , exerting downward pressure on charge per unit , while tight capacity in the Less Than Truckload segment impart to high rates as report in our latest Q3 results .
gentle wind cargo updateThe global zephyr freight market has seen a mixed picture in late months . On the capacity side , September project a slight slowdown in emergence to 5 % year - over - twelvemonth , though the expansion extend to be force back mainly by international widebody traffic .
In terms of pricing , global lading rate have stay on relatively stable but with renowned variance across swap lane . One positivistic development has been the diminution in blue jet fuel prices in September , which outpaced the fall in crude fossil oil monetary value and narrowed the refining crack open to $ 13 per barrel .
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For more selective information : Mikkel LinnetA.P. Moller - MaerskTel : +45 24821196Email:[email protected]www.maersk.com
