Air Cargo Volume Points To A Sharp Decline In Global Industrial Production

Nomura’s own air cargo volume index has been a rather good leading indicator of global industrial production growth (correlation at 0.85).

Currently, their own index shows that air cargo volume declined by 7.8% yoy for April.

That points to sharp decline of global industrial production in the near future.

chart

Source: Nomura

This article originally appeared here: Chart: air cargo volume points to sharp decline in global industrial production
Also sprach Analyst – World & China Economy, Global Finance, Real Estate


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