DHL Air Freight State of the Industry – February 2024

Find out the latest developments of the global air freight market in this monthly analysis by DHL Global Forwarding.

Airfreight industry volumes back to growth against low 2023 levels, GDP growth remains steady.
Service sector growth coupled with falling price pressure, leading to easing global inflation expectations, the lowest since October 2020.
PMI index rose to 51.8 in January, up from 51.0 in December 2023, indicating improvement across most sectors.
Global air cargo capacity and demand continued to rise YoY in early 2024, boosted by pre-Lunar New Year combined with Middle East disputes.
Brent crude oil spot price averaged $80 per barrel in January 2024, expected to rise slightly in the coming months.

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