US trade expected to further decline
The DHL Global Trade Barometer predicts a continued slowdown in US trade, slipping -1 point to 44 since the last update in September. Air trade remains feeble, dropping -2 points to 42, while ocean trade is also expected to contract albeit gaining +1 point to 46.
The frail air exports in addition to deflating air imports are pulling the air trade outlook downwards. Negative growth outlook is predicted for all industries across air exports, except for Basic Raw Materials. Air imports of High Technology dwindles rapidly while Land Vehicles & Parts and Industrial Raw Materials are sluggish. Consumer Fashion Goods is also expected to cool down. Imports of Temperature or Climate Controlled Goods on the other hand, are expected to grow.
The resilient ocean imports are showing signs of growth, offsetting a contraction of ocean exports. Imports of Basic Raw Materials, Consumer Fashion Goods, Machinery Parts and Temperature or Climate Controlled Goods are expected to fuel the recovering ocean trade. However, imports of Industrial Raw Materials and Land Vehicles & Parts are expected to decelerate. Meanwhile, slowdown in exports is forecasted for all industries except Land Vehicles & Parts which is predicted to maintain a mild growth factor for ocean exports.