Air freight led a welcome recovery in the logistics sector during March 2024

After declining notably in the first two months of the year, the Ctrack Transport and Freight Index (Ctrack TFI) increased in March to an index level of 119.7, an increase of 1.1% compared to February’s level, though just marginally up on a year ago. Except for the two smaller sub-sectors (pipeline transport and storage & warehousing) that declined, all other sub-sectors increased on a monthly basis, led by a notable increase in air freight – see graph 2. Similarly, compared to a year earlier, four sub-sectors increased during March, one remained unchanged (pipeline transport) and only the road freight sub-sector declined.