Europe’s Economic Outlook Improves, Container Logistics Companies Struggling
Europe’s economic rebound is mixed as the service sector bounce back is the biggest since 2009 while the manufacturing sector witnessed a decline in orders for goods. The economy is expecting a modest recovery which is a very encouraging sign for the supply chains in the longer term.
The industry sense is that the freight rates and the container prices have bottomed out globally. The industry surveys conducted by S&P Global indicate a subdued economic rebound. The eurozone’s annual rate of inflation stood at 6.9% in March.