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The International Air Transport Association (IATA) statistics for July showed continued strengthening of demand for cargo traffic.
Compared to July 2009, freight traffic showed a 22.7 percent increase, but it was less than the 26.6 percent increase in June.
The apparent slowdown was entirely due to the fact that by July 2009 traffic was already starting to recover. After adjusting for seasonality, the improvement in demand was faster month-to-month in July than it was in June.
It is clear that the recovery has entered a slower phase. During the second half of 2009, demand was rebounding at an annualised rate of 28 percent for cargo. In the year to July, the annualised growth rates had dropped to 17 percent.
“The recovery in demand has been faster than anticipated. But, as we look towards the end of the year, the pace of the recovery will likely slow. The jobless economic recovery is keeping consumer confidence fragile, particularly in North America and Europe. This is affecting cargo traffic. Following the boost of cargo demand from inventory re-stocking, further growth will be largely determined by consumer spending which remains weak,” said Giovanni Bisignani, IATA’s director general and chief executive officer.
July global cargo demand was four percent higher than pre-crisis levels in early 2008.
Cargonews Asia
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