Recession threats loom as Supply Chain reorganization persists

The probability of a recession in the US now stands at 35%

After a year of surprisingly strong growth, the U.S. economy is now showing signs of slowing. The July jobs report was softer than expected, with the unemployment rate rising for the fourth straight month — sparking a market sell-off and heightening fears of an impending recession... Read more

?

Democrats on defensive after Kamala Harris’s economic plans poorly received

Democrats rushed to defend Kamala Harris’s newly unveiled economic plans on Sunday, amid criticism that they amounted to gimmicks that would fail to tackle inflation... Read more

Youth unemployment in China jumps to 17.1% in July

Youth unemployment in China ticked up to 17.1% in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds… Read more

?

China’s economy fails to pick up after worst stretch in five quarters

China’s weakening economic momentum failed to pick up as sluggish confidence weighs on consumption and investment, putting the government’s annual growth target at risk... Read more

?

Europe’s economic growth is extremely fragile

European policymakers will be hoping that two consecutive quarters of growth are equally notable. Data released on August 14th showed that, in the second quarter of the year, the EU’s economy once again grew by 0.3% against the previous quarter... Read more

?

Good news for Europe's top economies as disposable income rises

Disposable household income per capita in Europe's top economies crept up by 0.2% to 3.4% in the first three months of 2024. During the same period, real GDP per capita also saw growth across most European countries... Read more

?

UK economy grows strongly in Q2 but slowdown seen ahead

Britain's economy recorded a second quarter of strong growth as it recovered from last year's shallow recession but it lost momentum as it entered the second half of 2024, suggesting the Bank of England remains on course to cut interest rates again... Read more

?

UK unemployment falls slightly as pay growth slows

The UK's unemployment rate has fallen slightly, official figures suggest. Unemployment was 4.2% in the three months to the end of June, down from 4.4% over the previous quarter... Read more

?

Germany's economic sentiment crashes in August, dragging eurozone down

Germany and the eurozone's economic sentiment plunged in August, driven by global trade slowdown, stock market turmoil, and Middle East tensions. The ZEW Economic Sentiment Index, a key indicator that gauges the expectations of financial experts, fell dramatically from 41.8 points in July to just 19.2 points in August... Read more

????????????????????????????????????????????????????????

German investment in China soars despite Berlin’s diversification drive

German direct investment into China has risen sharply this year, in a sign that companies in Europe’s largest economy are ignoring pleas from their government to diversify into other, less geopolitically risky markets... Read more

Japan’s Economy Shows Signs of Life as Spending Revives

The Japanese economy returned to growth in the April-June quarter, showing signs that the healthy economic cycle led by spending that policymakers have long sought to create is taking shape...Read more

?

UK unemployment falls slightly as pay growth slows

The UK's unemployment rate has fallen slightly, official figures suggest. Unemployment was 4.2% in the three months to the end of June, down from 4.4% over the previous quarter... Read more

?

Japan second-quarter GDP beats expectations, expands 0.8% from previous quarter

GDP rose 0.8% quarter on quarter compared to Reuters poll estimates of a 0.5% rise. This was also a reversal from the revised 0.6% fall seen in the first quarter... Read more

????????????????????????????????????????????????????????

Japan's change of leadership comes at challenging time for monetary policy

As Japan’s race to select a new leader heats up, candidates will be scrutinized for their views on monetary policy, with the shake-up coming at a pivotal moment when the economy is just emerging from decades of deflation... Read more

China-Europe rail freight volumes up 11% YoY in first seven months of 2024

In the first seven months of this year, the China-Europe Railway Express operated a total of 11,403 trains, transporting nearly 1.23 million TEUs (twenty-foot equivalent units) of goods, representing year-on-year increases of 12 percent and 11 percent, respectively... Read more

Troubled South African Rail Monopoly Defends Pace of Recovery

South Africa’s state logistics company said it’s doing the best it can within the constraints it faces and is making some progress, after being blamed by business and government for sapping economic growth and costing jobs... Read more

?

UK's Royal Mail parent to sell US freight business to DC Logistics

International Distributions Services, the parent company of Royal Mail, announced on Monday that its parcel services business, GLS, will sell its U.S. freight divisions to California-based DC Logistics.... Read more

?

Earnings call: Hapag-Lloyd sails through H1 2024 with robust financials

Hapag-Lloyd, a leading global shipping company, reported a robust financial performance in the first half of 2024, with an EBITDA of approximately $0.9 billion despite facing disruptions... Read more

China Launches New Freight Routes to Southeast Asia: Guangzhou, Vientiane, and Bangkok Now Connected

China introduced new cross-border routes connecting Guangdong-Yunnan-Mekong and China-Laos-Thailand, this is reported by the railway transport news portal Railway Supply... Read more

?

DC Logistics deal with GLS will revive Mountain Valley Express

GLS Group will sell its U.S. less-than-truckload and brokerage operations to California-based DC Logistics, the companies announced Aug. 12. The acquisition, expected to close next month, is part of DC Logistics’ ambition to grow into one of the nation’s 20 largest LTL carriers... Read more

?

Possible US seaport strike could back up goods for months, shipping experts say

A potential strike at U.S. seaports on the East Coast and Gulf of Mexico could back up cargo there for weeks or even months, shipping experts said on Wednesday. Retailers like Walmart and other importers have been rushing goods in ahead of the Sept. 30 expiration of the union contract covering some 45,000 dockworkers at three dozen seaports from Texas to Maine.... Read more

?

Early US imports lessen risk from potential seaport strike, economist says

U.S. retailers' early back-to-school, Halloween and Christmas holiday imports could lessen cargo delays and financial damage should workers at vital seaports such as New York and Houston strike in October, a trade economist said on Tuesday... Read more

?

China-Europe Freight Train Prices Are Climbing Further in August

The cost of moving goods via the China-Europe rail freight link has jumped since May because of the Red Sea crisis and a pickup in trade, with prices rising yet again this month, according to initial data... Read more

?

Evergreen rides surging freight rates to big jump in H1 profits

Strong demand and surging freight rates powered Evergreen Marine, Taiwan’s largest container line, to report a first-half net profit of $1.4 billion Tuesday, up from $318 million in the same period one year ago... Read more

?

Etihad cargo revenue up 10% in first half

Etihad Airways’ cargo revenue increased by approximately 10% in the first half of this year compared to the same period of 2023... Read more

China rapidly gasifies its freight vehicles

In June 2024, diesel fuel consumption in China decreased by 11% year-on-year (YoY) and reached 3.9 mln barrels per day (bpd). This contraction in demand became the maximum one starting from July 2021... Read more

?

Uber Freight Launches Major Shipping Platform Update

Uber Freight is launching what it has called the largest evolution of its freight quoting and booking platform, the company announced Aug. 15... Read more