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Survey: European Freight Improving

Danske Bank's survey of freight forwarders provides cause for optimism. May reading of 59 is up from 47 in April and 27 in March.

By John McCloud | Updated on May 13, 2009

COPENHAGEN-Answers from respondents to the latest Danske Bank survey of freight forwarders suggest the worst may be over for the European freight industry. The bank’s European Freight Forwarding Index for May registered at 59, the first time the figure went above 50 in 2009.

According to the report’s author, Danske Bank transport equity analyst Johannes Møller, the current index provides a clear indication that the recovery in the freight markets has begun. The index runs from 0 to 100, with values above 50 indicating business levels are improving. Previous readings were 46 in April, 27 in March and 28 in February.

The survey questioned 123 forwarders in Scandinavia, the UK, Germany and Eastern Europe, with respondents asked to compare current freight volumes to volumes two months earlier and to predict volumes two months in the future. The reading for two months forward was an even higher 60.

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