Global economic activity continues to be affected by the virus and the April PMI in the manufacturing industry shows a huge weakening.
In the US and Europe, they fell to 36.9 and 33.6 points, respectively.
In China, according to the National Bureau of Statistics (NBS), the New Export Order index fell to 33.5 points.
As the US imposed a lockdown in March, clothing and accessories stores saw retail sales fall 50% since February.
Similarly, furniture sales fell by 26.8% in February, and car parts by 25.6%. These products account for a large share of maritime transport.
In the Eurozone, PMIs have been shrinking since February 2019, and the latest figures showing unprecedented decline suggest a bleak future for the future.
The industry’s PMIs show classically how the maritime transport market will move in the coming months, and the latest data show that 2020 will be a stress-free test for containerships without precedent.
We are facing the biggest recession since the Great Depression in the 1930s, and any gains from previous years can be lost in a matter of months.
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