The logistics sector ended 2023 on a better note

The Ctrack Transport and Freight Index (Ctrack TFI) increased somewhat in December to end a volatile year for the logistics sector on a better note. At an index level of 121.1 in December, the Ctrack TFI is 8.4% above year-ago levels and 1.9% above the September level, signalling that the transport sector likely contributed positively to Q4 2023 GDP growth. While the improvement is indeed welcomed, the Ctrack TFI is still 2.1% below its recent high reached in May 2023 and the sector still faces many challenges at the beginning of 2024.