RWI/ISL Container Throughput Input Index: Container throughput makes a weak start into the second half of the year
The essence in a nutshell:
- The Container Throughput Index of RWI – Leibniz Institute for Economic Research and the Institute for Shipping Economics and Logistics (ISL) recorded a seasonally adjusted decrease in July from 123.3 (revised) to 121.9 points.
- All regions of the world are affected by the slowdown of container throughput.
- In Chinese ports, the decline of container throughput is relatively small. The index recorded a decrease to 137.3 points in July, compared to 139.4 points in June.
- The North Range Index, which considers major continental European ports on the North Sea, showed a more significant downturn, decreasing from 106.6 (revised) to 103.8 points, compared to the previous month.
- The RWI/ISL Container Throughput Index for the month of August 2023 will be published on September 28th, 2023.
Commenting on the development of the Container Throughput Index, RWI’s head of economic research Torsten Schmidt says: “Container throughput has weakened at the start of the second half of the year. Therefore, this indicator also implies an economic downturn in the third quarter. High energy prices and an increase of interest rates are dampening demand worldwide.”
About the RWI/ISL Container Throughput Input Index:
The RWI/ISL Container Throughput Index consists of container throughput data from 92 international ports gathered continuously by the ISL Monthly Container Port Monitor as part of its market observation. These ports account for approximately 64 percent of global container traffic. The current flash estimate for the Container Throughput Index is based on data from about 82 percent of the total index displayed here. As international trade is handled primarily by sea, reliable conclusions can be drawn here from container port throughput data. Furthermore, the index is a reliable early indicator of international trade of manufactured goods as well as global economic activity as most ports already report their activities within two weeks after the end of each month. The container throughput index is part of the statistics on foreign trade in the „Dashboard Deutschland“ of the Federal Statistical Office. Data series for individual ports are available in the ISL Monthly Container Port Monitor.
For more background information on the RWI/ISL Container Throughput Index, please visit www.rwi-essen.de/containerindex.