Global air cargo demand falls 3.4% in June
Global air cargo demand fell 3.4% year-on-year in June, the International Air Transport Association says. – AFP pic, August 8, 2023.
IATA attributed the lower demand to the decline in global manufacturing production and exports, where both the manufacturing Purchasing Managers Index and new export orders PMI fell below the critical threshold of 50 in June at 49.2 and 47.1, respectively. “The difference between the annual growth rates of air cargo and the global goods trade narrowed to -2.6 percentage points in May, representing the smallest gap since January last year,” it said.
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