Zurich: International air freight traffic grew in July but at a slower pace than in the previous month, figures showed on Wednesday, offering fresh evidence that the economic recovery is starting to falter.
Airline industry body IATA said international scheduled freight traffic rose 22.7% year on year in July, while international passenger demand rose 9.2%.
Cross-border air shipments, which IATA measures in freight tonne kilometres, are considered a prime indicator of the health of world trade.
“The recovery in demand has been faster than anticipated. But, as we look towards the end of the year, the pace of the recovery will likely slow,” Giovanni Bisignani, IATA’s director general and CEO, said in a statement.
Consumer confidence was fragile, particularly in North America and Europe.
“This is affecting leisure markets and cargo traffic. Following the boost of cargo demand from inventory re-stocking, further growth will be largely determined by consumer spending, which remains weak,” Bisignani said.
IATA represents 240 airlines operating 94% of all international traffic. Domestic flights are excluded from its data.