The manufacturing sector is facing significant challenges, with a decline in output and export orders, raising concerns about demand and inventory levels. While the Global PMI Composite Output Index showed slight growth driven by the services sector, the manufacturing output fell, particularly in China, which saw its first drop in goods exports in 2024. Conversely, India reported modest growth in export orders. Anticipated interest rate cuts by the Federal Reserve may help revive global goods trade. Air freight demand is rising due to shifts from ocean freight, especially in light of potential strikes and upcoming holiday seasons.

Source: https://www.stattimes.com/air-cargo/port-strike-to-boost-air-freight-demand-dimerco-1353347