A significant slump in order volumes across U.S. supply chains took the shine off a slight improvement in global trade activity in Q4 2022, according to the latest data from Tradeshift.
Tradeshift’s Index of Global Trade Health shows the total volume of trade transactions across global supply chains at 3 points below the baseline in Q4, a modest improvement on the 5-point deficit recorded in Q3 of 2022. Both the Eurozone and the UK followed the global trend, with activity 3 points below the baseline in Q4.
The slightly brighter picture worldwide contrasted with a significant drop in activity across supply chains in the U.S. Trade transactions in the U.S. fell to 6 points below the expected range in Q4, the steepest quarterly loss of momentum in over a year. Order volumes, in particular, fell sharply, finishing the quarter 9 points below the baseline, the most significant reversal in buying activity since the world locked down in Q1 2020.
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Read more in an article from the American Journal of Transportation.