The last mile delivery market is growing rapidly, in large part fueled by the rise in e-commerce and B2C verticals. Trending Topic: The last mile is becoming more important than ever Ocean SPOT freight rates are now back at pre-pandemic levels and have seen little movement since January 2023. Core inflation, with the exception of food and energy, is proving sticky and it remains unclear when this will come down to the FEDs target inflation rate of 2%.Įurope inflation remains high after increases throughout 2022 and analysts are uncertain when we will see the peak in core inflation. The US inflation rate has now peaked and the squeeze on consumer purchasing power is expected to fade. The global manufacturing 'orders-to-inventory' ratio remained unchanged in May, sitting at 0.99, while manufacturing export orders saw a slight increase. This growth momentum is being driven by services, as China nears a return to pre-Covid conditions. The global composite PMI has continued to rise slowly throughout early 2023, reaching 54.4 in May. If there are any new topics you would like to talk about in future updates please let us know by filling out our survey form here.
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Growth in the second half is expected to be much slower than we saw over the previous six months, in part as questions have arisen about the strength of the Chinese economic rebound after Covid.įeatured in the June Asia Pacific Market Update While the first half of 2023 showed the overall global economy to be more resilient than expected, sticky inflation and residual effects of previous monetary policy leave analysts worried about the second half of the year.
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