Air Cargo Air cargo maintains recovery momentum despite headwinds · Industry air cargo demand decreased by 0.8% year-on-year in July, reflecting the sustained improvement in cargo tonne-kilometers (CTKs) and the low base of CTKs in 2022. · Air cargo capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 11.2%, primarily due to the continued restoration of belly cargo capacity during the summer season. · Global trade contracted for the third consecutive month, with manufacturing output and new export orders deteriorating. China's weak performance in production and exports is a concerning development for the global economy. · Inflation showed a mixed picture in July. The increase in US consumer prices picked up pace for the first time in 13 months, while both consumer and producer prices in China fell, suggesting a possible deflationary trend in the Chinese economy. · Asia Pacific airlines experienced their first year-on-year growth in cargo traffic since March 2022, driven by increased trade with other regions and significant market improvements within Asia. |