Weekly Newsletter

Weekly Newsletter

French PMI hits record low, trade deficit widens

S&P Global Market Intelligence showed the composite Purchasing Managers' Index (PMI) initially came in at 49.8 in August, down from 51.7 in July and expectations of 50.8. Output levels contracted for the first time since February 2021. At the same time, data showed that France's trade account deficit in July was 14.538 billion euros, the expected deficit was 13.56 billion euros, and the previous deficit was 13.066 billion euros.

South African manufacturing index jumps to 52.1

The Absa Group Purchasing Managers Index jumped to 52.1 from 47.6 in July, well above the median economist forecast of 48.2, the Allied Bank of South Africa (Absa) said. That's because nationwide power outages have eased and fuel prices have fallen.

Vietnam's total trade volume in the first eight months of the year increased by 15.5% year-on-year

According to the latest data released by the Statistics Bureau of Vietnam, in the first eight months, the country's foreign trade totaled US$497.64 billion, a year-on-year increase of 15.5%; the trade surplus was US$3.96 billion. Among them, the cumulative export was 250.8 billion US dollars, a year-on-year increase of 17.3%; the cumulative import was 246.84 billion US dollars, a year-on-year increase of 13.6%.

Suez Canal Ship Traffic and Revenue Hit Record Highs

According to the Suez Canal data, the number of ships passing through the canal reached 2,125 in August, an increase of 12.8%. Total net tonnage was 127.8 million tonnes, an increase of 16% year-on-year. Revenue was $744.8 million, up 32.4% year over year. Both the number of ships passing through and the dollar revenue reached new highs.

CMA CGM sets up a special energy fund to accelerate energy transformation

Recently, CMA CGM Group announced the establishment of a special energy fund, which plans to invest US$1.5 billion in five years to accelerate the energy transition and achieve the goal of net-zero carbon emissions by 2050. The special fund will invest in supporting the industrial production of new fuels, as well as in the development of low-carbon emission transportation solutions covering all business segments of the Group.

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

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