Recovery is ready for take-off, say economists

Airfreight tonnage has recovered to its pre-crisis level in the US and European Union – and it could be sign of a wider global economic recovery, says the Paris-based International Transport Forum (ITF).
Part of the Organisation for Economic Co-operation and Development (OECD), ITF says that, according to its seasonally-adjusted preliminary figures in its latest quarterly Statistics Brief, covering the period to the end of November 2014, this is the first time this has happened since the second quarter of 2012. The quarterly ITF index has not been in positive territory for about four years.
ITF considers that airfreight is a “lead indicator” for the wider global economy. It points out that sea traffic is also recovering well, but is trailing the airfreight market by some distance and is still 1 per cent below pre-crisis levels, says ITF.
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