Wednesday, September 2, 2009

Signs of Recession Lifting for Logistics Industry

Gradual upturns noted in August figures
Shipping News Feature

WORLDWIDE - Following on from yesterdays story on the increase in the tonnage carried by Russian Railways comes some other hopeful indications that the worldwide freight industry, suffering hard from the recession, is starting to see the ‘light at the end of the tunnel’.

Indian Railways has recorded a substantial growth in its tonnage for August, even in comparison to last year. Freight has increased by over 11.5 percent with 72.9 tonnes loaded last month.

In addition, the US Cass shipping index has recorded an increase of 1.3% in August in comparison to July, making them the highest they’ve been since November, 2008. The index is an important monitor on the state of the American freight industry and the gradual rise is a hopeful sign.

And in more news of an upturn in the international economy the Chinese Federation of Logistics and Purchasing yesterday announced that China's manufacturing expanded at its fastest pace in 16 months in August.

With German unemployment unexpectedly falling last month, the signs are all good for the start of a worldwide recovery.