Mexico’s economy grew less than first estimated in the fourth quarter as activity contracted in December, the first month of President Andres Manuel Lopez Obrador’s administration, data showed on Monday, clouding the outlook for 2019.
Tag Archives: International
Cargo throughput results for the beginning of 2019 were mixed, with certain regions performing significantly better than others. Airports in North America saw the majority of growth in cargo volumes in January, while airports in Mainland China saw modest rebounds and European airports experienced a continued decline in cargo volumes following an overall diminished 2018 peak season.
Imports at the nation’s major retail container ports have dipped since peaks seen last fall but remain at higher-than-usual levels as a possible increase in tariffs on goods from China approaches in March, the National Retail Federation (NRF) and Hackett Associates said.
Airfreight rates on the transpacific trade lane continued to come under pressure in January as contacts say that demand at the start of 2019 has been lacklustre. Figures from Tac Index show that airfreight rates on services from Hong Kong to North America declined by 0.8% year on year to an average of $3.66 per kg.
Coinciding with the upswing in the world economy two years ago, global seaborne trade is doing well, note analysts for the Geneva-based United Nations Conference on Trade and Development (UNCTAD). They also observe that containerized shipping expanded by 4% in 2018-the fastest growth in five years.
The International Air Transport Association (IATA) announced global passenger traffic results for 2018 showing that demand (revenue passenger kilometres or RPKs) rose by a healthy 6.5%, whilst air freight grew by 3.5% (both compared to full-year 2017).
Oil sank for a second straight day as service-sector orders fed worries about the economy and traders received another report of booming U.S. crude supplies.
The trade war between the United States and China has caused major disruptions for global businesses – but it may also bring benefits for some. Companies in Europe, Mexico, Japan and Canada could add tens of billions of dollars in export orders if the conflict drags on, according to a study released this week by the United Nations Conference on Trade and Development.
A slowing Canadian economy will result in consumer spending falling to its lowest level in a decade this year, according to a new report from the National Bank of Canada. Economists at the bank expect real consumption growth – which is calculated once the impact of inflation is stripped out – to hit 1.3 per cent in 2019, which would be the lowest since 2009 when it fell to 0.2 per cent amid the global financial crisis.
The Port of New York and New Jersey witnessed a record-breaking year as it handled over 7 million TEU in 2018 for the first time in its history.