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On a global scale, containerised export data from CTS, shows that activity improved in May following a weak start to 2013. Since then, the pace has picked up, and November and December saw 5-7% growth rates from same months of last year.
2014 is off to a good start, as global economic growth is already stronger than anticipated three months ago. At the end of January, the IMF upwardly adjusted its estimates for global economic development in 2013-2015. Amongst the countries receiving noticeable positive adjustments were the US, Japan, Spain, UK, China and India.
As we are about to call it a day on 2013, we can now look back at a year that we are happy to say good-bye to, as it disappointed us. One year ago, 2013 was proclaimed to be a year with stronger growth than the one we had just left. Today, we are predicting the same thing in 2014, which is estimated to be just as good at 2013 was supposed to be.
With a sigh of relief, shipping people all over the world received the positive numbers indicating the beginning of the recovery of the European economy.
2013 was expected to turn the sour circle round and bring forth a year with a higher growth rate than that of 2012 – but it is about to evaporate in the Summer heat.
What we all seem to want is stable and sustainable economic growth within which to build our business, but what we are getting at the moment is recurrent minor shocks that shake our confidence and prohibit us from moving forward fast.
Global monetary policy easing, low interest rates and volatile inflationary pressure from goods, services, and assets is “dish of the day” as the global economy is desperate to shrug off the bad effects of the financial crisis that still haunts us.
The global economy remains on the expansionary track at the start of 2013. The positive development is underpinned by rising global employment, a faster new order inflow and a higher output of services and manufactured goods.
The year 2012 has been a turbulent one for the global economy and the outlook has deteriorated since our last forecast.
At this point in time, everything points towards a stronger and expanding global economy for 2013. This is the widespread opinion, reinforcing the belief that 2012 is the final trough of what might turn out to have become a W-shaped recovery.
