Shifting Economic Mass Towards Emerging Economies Shown In Global Freight Data
The latest update of global freight data collected by the International Transport Forum at the OECD through September 2013 reinforces the observation of a shift of economic mass to emerging economies:
- USA and EU27 exports increase strongly and imports decline markedly, reflecting weak domestic demand and stronger performance of emerging economies;
- EU external trade by air, considered as a lead indicator, rebounds above pre-crisis peak, indicating a potential improvement of the economic outlook;
- Road and rail freight data continue to point out weak domestic demand especially in the EU area.