The Freight Index (above) shows the price shippers charge to move trade at sea. Int'l trade has ground to a halt as the prices have dropped 76% since May, the biggest decline in history. This is a leading indicator of economic problems, perhaps both demand side and supply side, a direct result of the global credit crunch.
Thursday, October 9, 2008
International Trade Crashing?
The Freight Index (above) shows the price shippers charge to move trade at sea. Int'l trade has ground to a halt as the prices have dropped 76% since May, the biggest decline in history. This is a leading indicator of economic problems, perhaps both demand side and supply side, a direct result of the global credit crunch.
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