The latest global freight data collected by the International Transport Forum (ITF) at the OECD through June 2012 highlights continuous economic uncertainty as both as EU and US trade continue to stagnate below the pre-GFC peak, which was reached in June 2008.
According to the ITF, only Germany and the Netherlands continue to show resilience to the overall weak performance in Europe. Everywhere else, the on-going Eurozone crisis is reflected by falling imports and weak domestic demand – particularly in Greece. Overall, EU road freight declined from the previous quarter to 10 per cent below pre-crisis levels in Q1/2012.