First half of October: announcing another trend change
According to our provisional figures, the present month did not start well. Through October 18, weekly volumes are marginally down, whilst yields/charges are trending upwards since last week. The Americas seem to look slightly better than other regions, both MoM and YoY. The New York Times mentioned a few days ago that the economy in China “rebounds strongly”, citing the latest figures of China’s National Bureau of Statistics for Q3 2020. Our figures do not yet show such trend for air cargo ex-China. Even though China’s YoY volume decrease in Q3 was much smaller (-4%) than the world average (-16%), YoY China’s second quarter was better than its third. But the flaring up of COVID-19 in both Europe and the USA may well change things again, as yields/charges from China to Europe and (in particular) the USA, are on the rise again after the steep drop in June/July.
