The International Air Transport Association (IATA) has released data for July 2023 global air cargo markets, showing a continuing trend of recovering growth rates since February.
The difference between the annual growth rates of air cargo and the global goods trade narrowed to -0.8 percentage points in June. While air cargo growth is still lagging world trade, the gap is the narrowest since January 2022.
In July, the global supplier delivery time PMI was 51.9, signaling fewer supply chain delays. All major economies, except China, had PMIs above 50. The U.S., Europe, and Japan recorded PMIs of 54.2, 57.7, and 50.4, respectively.
Inflation saw a mixed picture in July, with the increase in US consumer prices picking up pace for the first time in 13 months. Meanwhile, in China, both consumer and producer prices fell, pointing to a possible deflationary economy. IATA’s Director General, Willie Walsh, said compared to July…
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