DHL have launched what they are calling a Global Trade Barometer, which is a quarterly report on economic growth based on the import and export data for certain “intermediate” and “early-cycle” commodities, such as raw manufacturing materials.
DHL’s access to a large volume of trade data makes the report possible, analysed and evaluated with the help of artificial intelligence, according to the company. To generate its forecast, it focuses on early indicators from seven countries responsible for 75% of world trade.
Economic growth is measured in the report by an index scored out of one hundred, with any score over 50 regarded as positive. According to the very first report, for January 2018, the index scored 64. This is slightly lower than calculations for previous months, DHL says, indicating that world trade is still in an “expansive mode” but losing momentum.
The decline is attributed to slackening Chinese and Japanese trade, which is only somewhat balanced out by growing prospects for India, South Korea and Great Britain.
DHL pitches the Global Trade Barometer as a tool to help DHL customers optimise their business processes, but also suggests applications beyond logistics as an indicator of worldwide economic growth that can be used by banks and other institutions.
(Source: DHL)
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