Global air freight traffic declined in May

Global air freight traffic declined in May    Worldwide air freight traffic declined 1.6 percent in May compared to the same month in 2004, providing the latest evidence of a slowdown in international trade.
   Measured in freight ton-kilometers, air freight traffic in May even fell 2.8 percent in North America, 6.6 percent in Latin America and 2.7 percent in Asia-Pacific, according to the International Air Transport Association, which compiled the statistics.
   The Middle East and Africa were the only regions that experienced growth in air freight traffic in May.
   “May cargo growth slipped into negative territory in Asia, North America, Latin America and Europe, following sluggish performance since the beginning of 2005,” the international airline association said. “As a leading economic indicator, the slowdown in cargo traffic demonstrates that the high price of oil is slowing the global economy faster than expected.”
   For the first five months of 2005, growth in air freight traffic was 3.1 percent worldwide, with North America recording a growth of 6.9 percent.