The Stifel Nicolaus Logistics Confidence Index, a monthly survey of international shippers and forwarders measuring Europe-based air and ocean freight trade lanes, conducted by Stifel Nicolaus Transportation & Logistics Research Group, rose for a third month in August, up 8.9 percent year-over-year to a reading of 52.7.
August’s reading also marks the seventh consecutive month above the 50.0 threshold, reflecting expansion, according to the research group. Furthermore, the report showed the index in August was up only 0.3 points from July, but still reached its highest level in five months, indicating that confidence continues to build in the overall European freight forwarding market, even if progress is slow.
The overall sea freight index improved 0.3 points to 54.5 in August, while the air freight index remained at or above the 50.0 benchmark value for a second month in a row.
“Although certain markets in Europe remain challenged, we continue to believe that downside risks have moderated, and that European import/export volumes should accelerate into the back half of the year, generally positive for the freight forwarders, which have had a tough market the last two years,” Stifel Nicolaus Transportation & Logistics Research Group concluded.