DHL recently launched a new early indicator that measures the current and future state of global trade. The Global Trade Barometer was created in partnership with Accenture and will be released quarterly to help provide essential analytics for companies.
“While precognition is reserved for science fiction, successful business leaders today can rely on economic data and predictive analytics to determine how and when to launch new products, develop alternative business ventures, and enter new global markets.”
According to Cargo Facts, the Barometer uses data from 2013 up to present. It measures the growth of global trade in which a scale higher than 50 may indicate a global trade expansion, while scores lower than 50 may indicate that trade is diminishing.
The January 2017 index shows an overall trade growth in the U.S. for the next quarter. Although air trade growth is on a downward slope, experts still remain positive; while experts believe that ocean freight will get a boost for the next quarter. In the barometer’s first release, it registered at 64, which indicates a healthy expansion of global trade.
A deeper understanding of the DHL Global Trade Barometer
In addition to the general findings on world trade, the barometer also shows extensive insights in certain issues such as the regions that are driving global trade and other main macroeconomic factors.
According to Air Cargo News, volume trends within industry sectors could now be easily identified by digging dipper into the global supply chain and finding out which are the outperforming and declining sectors.
As a possible indicator of global economic growth and future trade, the barometer could be used and integrated into various forecast models by economic research institutes to device a business plan.
By acquiring additional data, the barometer can effectively inform you of possible trade strategies that will allow you to make certain decisions on spending and investment.
What do you think of the Global Trade Barometer, is it useful or more of a gimmick? Head over to our Facebook Discussion Group or use the comments section below to let us know.
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