Global container turnover declines
The RWI/ISL Container Turnover Index, a collaborative effort by the RWI – Leibniz Institute for Economic Research and the Institute of Shipping Economics and Logistics (ISL), showed a slight drop in July, reaching a seasonally adjusted 121.9 points compared to the revised 123.3 points of the previous month.
This decline in all regions hints at a potential end to the worldwide container turnover recovery. Notably, Chinese ports experienced a minor decrease, with the index value falling from 139.4 to 137.3 points.
The Nordrange Index, indicating economic health in the northern part of the Eurozone and Germany, also saw a notable decline from 106.6 (revised) to 103.8 points.
RWI's chief economist, Torsten Schmidt, suggests that this decline may signal an economic deceleration in the third quarter, influenced by high energy prices and heightened interest rates. (pb)