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Financial Times Confidential Research freight index hits nine-month low
THE Financial Times Confidential Research (FTCR) China Freight Index fell to a nine-month low in May, with the sector proving immune to signs of stabilisation in other parts of the economy and companies now pessimistic about the near-term outlook.
Profits fell sharply as surging cost pressures were compounded by a faster drop in volumes and rates. The FTCR Freight Volume Index fell 2.5 points (pts) year on year to 41.2, below last April's 43.8 and the lowest level for a non-holiday month since last August.
The index has been below 50 ?indicating contraction ?for 18 months. Freight rates fell, costs rose and profits dropped in the past month.
Profits fell sharply as surging cost pressures were compounded by a faster drop in volumes and rates. The FTCR Freight Volume Index fell 2.5 points (pts) year on year to 41.2, below last April's 43.8 and the lowest level for a non-holiday month since last August.
The index has been below 50 ?indicating contraction ?for 18 months. Freight rates fell, costs rose and profits dropped in the past month.
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