The seasonally adjusted RWI/ISL Container Throughput Index increased to 115.7 in May after a corrected 115.1 in April. However, the increase was not strong enough to even out the previous month’s decrease. All in all, the index indicates that the trend underlying world trade remains weak.
The April value of the index was corrected upwards by 0.4 point since last month. This was first and foremost a result of the recalibration of seasonal factors. The unadjusted index was increased by a mere 0.1 per cent, a minor revision compared with the to-date average. Just like last month, the current flash forecast for May is based on a sample of 41 ports handling roughly 75% of the traffic represented in the Index.
The Index is based on data of 73 world container ports covering approximately 60% of worldwide container handling. The ports are continuously monitored by the ISL as part of their market analysis. Because large parts of international merchandise trade are transported by ship, the development of port handling is a good indicator for world trade. As many ports release information about their activities only two weeks after the end of the respective month, the RWI/ISL Container Throughput Index is a reliable early indicator for the development of international merchandise trade and hence for the activity of the global economy.
