While a booming heavy-industrial sector has shielded certain segments, the broader housing affordability crisis is actively suppressing volumes across multiple shipping modes.
“The procurement of industrial products and spare parts is at a critical crossroads as the global supply chain is faced with unprecedented headwinds,” said Chris Lawrence, managing partner at Labyrinth Capital Partners.
China’s National Bureau of Statistics reported slowing growth pointing to weaker exports as the China Manufacturing Purchasing Managers Index (PMI) dropped to 50.8 percent, down 0.5 percentage points from the previous month to the second lowest reading in 12 months.
