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Worldwide airport cargo volumes decline in August as China slows down
GLOBAL air freight volumes at airports continued to slow in August as China's economic slowdown took its toll on the cargo industry, reported London's Air Cargo News.
The latest data from Montreal-based Airports Council International (ACI) shows airports posted an August decrease in cargo volumes of 0.2 per cent year on year.
For the first eight months of the year, volumes are 2.8 per cent ahead of the same period in 2014, showing how growth has slowed as the year progressed.
ACI said the slowdown was linked to the Chinese economy and stagnation in North American volumes. Global air freight markets were affected by slowing economic growth in China.
"With a high concentration of the world's major air freight hubs located in the region, this has an impact on global growth in volumes, which has remained flat as compared to last year," said the ACI statement.
"Hong Kong (HKG), the region's largest air freight hub, declined 1.4 per cent year on year. Despite the economic revival in advanced economies, air freight contracted 1.7 per cent in North America.
"Memphis (MEM), a major FedEx hub, and Louisville (SDF), the UPS hub, each experienced a decrease of 1.4 per cent and 0.8 per cent respectively in terms of year-over-year growth," said the ACI statement.
The latest data from Montreal-based Airports Council International (ACI) shows airports posted an August decrease in cargo volumes of 0.2 per cent year on year.
For the first eight months of the year, volumes are 2.8 per cent ahead of the same period in 2014, showing how growth has slowed as the year progressed.
ACI said the slowdown was linked to the Chinese economy and stagnation in North American volumes. Global air freight markets were affected by slowing economic growth in China.
"With a high concentration of the world's major air freight hubs located in the region, this has an impact on global growth in volumes, which has remained flat as compared to last year," said the ACI statement.
"Hong Kong (HKG), the region's largest air freight hub, declined 1.4 per cent year on year. Despite the economic revival in advanced economies, air freight contracted 1.7 per cent in North America.
"Memphis (MEM), a major FedEx hub, and Louisville (SDF), the UPS hub, each experienced a decrease of 1.4 per cent and 0.8 per cent respectively in terms of year-over-year growth," said the ACI statement.
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