In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery. Data suggests demand weaknesses remain, while for industrial engine overseas shutdowns will hamper growth before long.
Haulage rates have risen steadily by around 5% over 15 months, driven by a mix of economic recovery, global supply chain bottlenecks, rising costs and scarce capacity — particularly of drivers