Chart: air cargo volume points to sharp decline in global industrial production17 May, 2012, 14:58. Posted by Zarathustra
Nomura’s own air cargo volume index has been a rather good leading indicator of global industrial production growth (correlation at 0.85). Currently, their own index shows that air cargo volume declined by 7.8% yoy for April. That points to sharp decline of global industrial production in the near future.