PREMIUM TRAFFIC MONITOR MAY 2015 KEY POINTS

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "PREMIUM TRAFFIC MONITOR MAY 2015 KEY POINTS"

Transcription

1 PREMIUM TRAFFIC MONITOR MAY 2015 KEY POINTS Passenger travel on international markets rose 6.2% in May compared to a year ago, accelerating on the 3.8% increase in April. Economy class travel grew at a stronger rate than premium international air travel, and although the growth was spread across most key markets, it was largely driven by the within Europe market; Economy class travel rose 6.4% in May year-on-year, a pick-up on April growth of 4.2%. The strong growth in economy class leisure travel the more price sensitive travel market is being supported by lower fares. Premium travel also rose in May, but at a slower (4.1%) rate. This reflects continued weakness in business travel demand drivers, with global business confidence being dragged down by emerging markets; The key driver of the faster growth in international air travel is acceleration on the within Europe market. In May, the market was up 5.1%, almost double the rate of growth seen year-to-date, supported by gains in business confidence which confirm that the economic recovery is on track; Looking ahead, although adverse economic developments in some emerging markets continue to present downside risks for growth in international air travel, better conditions in advanced economies are likely to sustain the recent acceleration in passenger numbers; Economic weakness in Asia from declines in trade activity could lead to deterioration in business related air travel for that region. That said, there has been no sign of weakness in demand so far. By contrast, improvements in the Eurozone are already translating to stronger demand for travel in both premium and economy classes. Looking at international air passenger volumes (first chart above) reveals early signs of improvement, particularly for economy passenger numbers. The increase in economy class volumes has been supporting by the fall in oil prices, which has led to lower fares. Economy class leisure travel is more price sensitive than business related premium class travel. Gains in premium passenger numbers have been dampened by overall weakness in business travel demand drivers. That said, positive economic momentum in some regions has supported stronger travel demand on some key markets. Most notably, data show a pick-up in business confidence in the Eurozone. It is important to note, however, that developments in emerging markets present a downside risk to growth in business-related international air travel for the coming months. Business activity in those economies has dipped into contractionary territory for the first time in 12 months.

2 In 2013 and during earlier parts of, when premium travel was expanding at a faster pace than economy travel, there was a boost to the share of premium travel from total travel. This was positive for yield growth and revenues. That trend has reversed during the recent past, placing downward pressure on the share of premium seats from the total. At the same time, a rebound in economy class travel has also contributed to a fall in premium s share of total travel. Economy class leisure travel, the relatively more price sensitive travel market, has been given a boost by falling fares. Even though there has been no marked gain in premium s share of total traffic, growth on longer-haul markets has been robust. This has helped support premium yields on some markets, which in turn has supported the financial performance of the longer-haul network airlines, compared to shorter-haul mainly leisure travel focused airlines in some, though not all, regions. The profile of air travel growth shows an improvement in Q2, driven by better demand conditions in some regions. In early 2015, we were seeing the negative impacts of earlier economic developments. World trade and industrial production accelerated during parts of, but that trend failed to continue through to the end of the year the lagged impact of that weakness in late had been showing up in the sluggish growth trend for premium travel earlier this year. However, recent improvements in advanced economies, in particular in Europe, show that the economic recovery in that region is on track, and we are now starting to see the positive impacts on air travel. 2

3 TRAFFIC GROWTH BY MAJOR ROUTE Results for the within Far East market remain robust, up 13.8% year-on-year, despite weakening economic growth in some key economies and declines in trade to/from the region. In China, a slump in Chinese export has weakened manufacturing for the past several months, and trade to/from the region overall was down 10% in Q1 compared to Q4. Although early Q2 trade data suggests that weakness in trade could be bottoming out, forward-looking indicators like exports orders show further weakness ahead. Economic conditions in the Eurozone remain fragile in the midst of on-going troubles with the Greek economy, but there have been some positive developments with June data showing increases in business activity. Efforts by the ECB to stimulate economic growth have led to an improvement in business and consumer sentiment in the region, and this has now started to translate to stronger demand for air travel with the region. Premium travel growth within Europe was up 7.6% in May year-on-year, and economy class travel rose 5.0%, both well above their respective trends year-todate. Markets connected to the Middle East have also seen solid growth over recent months, particularly in premium class. Premium travel on Africa Middle East, Europe Middle East and Middle East Far East all increased strongly in May year-on-year (22.8%, 7.1% and 8.3%, respectively). Major economies in the Middle East, including Saudi Arabia and the United Arab Emirates, have seen notable declines in non-oil sectors in Q (Markit), but the rates of growth remain robust and this should help sustain solid growth in air travel demand to/from the region. IATA Economics Conctact: Julie Perovic 21 st July

4 ANNEX: TRAFFIC GROWTH BY ROUTE MAY 2015 Premium Traffic Growth May 15 vs. May YTD 2015 vs. YTD Economy Traffic Growth May 15 YTD 2015 vs. May vs. YTD Total Traffic Growth May 15 vs. May YTD 2015 vs. YTD Africa - Far East -27.0% -15.0% -13.9% -11.1% -15.3% -11.4% Africa - Middle East 22.8% 10.1%.3% 7.0% 15.0% 7.3% Europe - Africa -5.4% -5.3% -0.4% -1.7% -1.0% -2.1% Europe - Far East -1.3% 2.5% 4.7% 4.2% 3.9% 4.0% Europe - Middle East 7.1% 7.1% 9.9% 6.6% 9.6% 6.7% Far East - Southwest Pacific 2.3% 5.9% 8.1% 6.8% 7.4% 6.7% Mid Atlantic 6.4% 9.3% 5.5% 5.0% 5.6% 5.4% Middle East - Far East 8.3% 7.8% 6.0% 6.1% 6.2% 6.3% North America - Central America 0.6% 2.4% 7.9% 6.9% 7.2% 6.5% North America - South America -7.7% -7.7% -5.4% -4.2% -5.7% -4.6% North and Mid Pacific 4.6% 3.1% 8.1% 6.1% 7.5% 5.6% North Atlantic 2.9% 3.2% 3.4% 2.1% 3.3% 2.3% Other routes 5.2% -1.0% 7.9% 5.3% 7.6% 4.7% South Atlantic -4.4% -0.9% 0.5% 0.3% -0.1% 0.1% South Pacific 8.1% 0.4% 5.7% 4.0% 6.0% 3.5% Within Africa -6.9% -5.1% -4.9% -3.9% -5.1% -4.0% Within Europe 7.6% 4.6% 5.0% 2.4% 5.1% 2.6% Within Far East 9.5% 9.7%.1% 11.4% 13.8% 11.3% Within North America 8.4% 3.3% 15.4% 8.4%.8% 8.0% Within South America 2.8% 1.4% 6.1% 7.2% 5.9% 6.8% Total 4.1% 3.7% 6.4% 4.7% 6.2% 4.6% Source: IATA Origin-Destination Statistics PREMIUM TRAFFIC BY ROUTE PREVIOUS MONTH Share of Premium Share of Total Traffic Revenues Traffic Revenue Africa - Far East 0.6% 0.8% 7.9% 25.8% Africa - Middle East 1.8% 1.2% 7.3% 24.4% Europe - Africa 3.8% 7.0% 6.5% 34.5% Europe - Far East 9.1% 13.7% 10.2% 40.5% Europe - Middle East 5.1% 5.8% 10.1% 44.2% Far East - Southwest Pacific 2.6% 3.0% 7.8% 27.8% Mid Atlantic 1.4% 1.9% 7.8% 31.2% Middle East - Far East 3.1% 2.1% 4.5% 16.0% North America - Central America 3.9% 1.9% 4.3% 10.7% North America - South America 2.4% 3.2% 11.4% 32.3% North and Mid Pacific 5.6% 11.7% 12.7% 40.0% North Atlantic.0% 23.0% 13.9% 50.9% Other routes 6.1% 4.7% 7.6% 26.1% South Atlantic 1.9% 3.0% 11.6% 36.0% South Pacific 0.8% 2.0% 11.9% 39.8% Within Africa 1.5% 0.6% 7.6% 20.4% Within Europe 17.7% 4.8% 2.9% 9.7% Within Far East 17.1% 8.9% 5.3% 15.9% Within North America 0.7% 0.5% 2.0% 7.1% Within South America 0.8% 0.4% 4.8% 10.6% Total 100.0% 100.0% 5.9% 27.9% Source: Diio, IATA

5 International Premium Traffic Growth by Route - % Growth 30% 20% 10% 0% -10% -20% -30% Africa - Middle East Within Far East Within North America Middle East - Far East South Pacific Within Europe Europe - Middle East Mid Atlantic Other routes North and Mid Pacific Total North Atlantic Within South America Far East - Southwest Pacific North America - Central America Europe - Far East South Atlantic Europe - Africa Within Africa North America - South America Africa - Far East International Passenger Growth by Route - % Growth 20% 10% 0% -10% -20% Africa - Middle East Within North America Within Far East Europe - Middle East Other routes North and Mid Pacific Far East - Southwest Pacific North America - Central America Middle East - Far East Total South Pacific Within South America Mid Atlantic Within Europe Europe - Far East North Atlantic South Atlantic Europe - Africa Within Africa North America - South America Africa - Far East IATA Economics Conctact: Julie Perovic 21 st July 2015 Terms and Conditions for the use of this IATA Economics Report and its contents can be found here: By using this IATA Economics Report and its contents in any manner, you agree that the IATA Economics Report Terms and Conditions apply to you and agree to abide by them. If you do not accept these Terms and Conditions, do not use this report. FURTHER ANALYSIS AND DATA Access data related to this briefing through the Monthly Statistics publication: NEW RELEASE ALERTS To receive notification of new analysis from IATA Economics, select Economic Briefings from: 5

PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS

PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS Growth in the number of passengers traveling in premium seats on international markets increased by a solid 3.8% in April compared to a year ago, which is

More information

CARGO E-CHARTBOOK Q3 2014 OVERVIEW

CARGO E-CHARTBOOK Q3 2014 OVERVIEW CARGO E-CHARTBOOK Q 4 OVERVIEW Air freight volumes continue to show solid gains on a year ago, supported by economic improvements in some regions, but high jet fuel prices and overall weakness in yields

More information

INFLATION REPORT PRESS CONFERENCE. Thursday 4 th February 2016. Opening remarks by the Governor

INFLATION REPORT PRESS CONFERENCE. Thursday 4 th February 2016. Opening remarks by the Governor INFLATION REPORT PRESS CONFERENCE Thursday 4 th February 2016 Opening remarks by the Governor Good afternoon. At its meeting yesterday, the Monetary Policy Committee (MPC) voted 9-0 to maintain Bank Rate

More information

Insurance Market Outlook

Insurance Market Outlook Munich Re Economic Research May 2014 Premium growth is again slowly gathering momentum After a rather restrained 2013 (according to partly preliminary data), we expect growth in global primary insurance

More information

October 2015. PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy

October 2015. PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy October 2015 Market Volatility likely to Remain Elevated on China Growth Concerns & Fed Rate Uncertainty. Stocks

More information

Business Outlook Survey

Business Outlook Survey Business Outlook Survey Results of the Winter 215 16 Survey Vol. 12.4 11 January 216 Overall, responses to the winter Business Outlook Survey indicate that business sentiment has deteriorated as the negative

More information

TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012

TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012 TIGER AIRWAYS HOLDINGS LIMITED Media Release 24 January 2013 TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012 Tiger Airways Holdings Limited has posted a profit

More information

1 st quarter ended 30 June 2004 (1) 30 June 2003 (1) pro forma

1 st quarter ended 30 June 2004 (1) 30 June 2003 (1) pro forma Roissy, 13 August 2004 1 ST QUARTER 2004-05 Turnover up 12.3% to 4.46 bn 1.5% -increase in unit revenue per available-seat-kilometer (excl. currency effect) First positive effects of Air France-KLM combination

More information

ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY

ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY Net balance responses. =no change ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY This new semi-annual report replaces the quarterly Airlines Financial Forecast, and takes a broader look at how the industry

More information

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013

2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 2013 global economic outlook: Are promising growth trends sustainable? Timothy Hopper, Ph.D., Chief Economist, TIAA-CREF January 24, 2013 U.S. stock market performance in 2012 * +12.59% total return +6.35%

More information

EUROMETAL OUTLOOK ON ECONOMIES & STEEL MARKETS

EUROMETAL OUTLOOK ON ECONOMIES & STEEL MARKETS EUROMETAL OUTLOOK ON ECONOMIES & STEEL MARKETS A REPORT TO EUROMETAL MEMBERS & EUROMETAL ASSOCIATE MEMBERS AND MEMBERS OF AFFILIATED FEDERATIONS DISMET, EASSC, NAT.FED AND STSG ECONOMIES AND STEEL MARKETS

More information

Finnair Q3 Result 2012. 26 October 2012

Finnair Q3 Result 2012. 26 October 2012 Finnair Q3 Result 2012 26 October 2012 1 Content Market environment in Q3 Business performance and strategy execution Outlook Financials 2 Finnair Q3 Result, 26 October 2012 Market Environment The global

More information

X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/

X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 1/ X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 10.1 Overview of World Economy Latest indicators are increasingly suggesting that the significant contraction in economic activity has come to an end, notably

More information

PREPARING FOR TAKEOFF: AIR TRAVEL OUTLOOK FOR 2016 Mining 2015 data to understand when to buy, expected ticket prices, and fare differentials

PREPARING FOR TAKEOFF: AIR TRAVEL OUTLOOK FOR 2016 Mining 2015 data to understand when to buy, expected ticket prices, and fare differentials PREPARING FOR TAKEOFF: AIR TRAVEL OUTLOOK FOR 2016 Mining 2015 data to understand when to buy, expected ticket prices, and fare differentials It s a good time to explore the world by plane. Across the

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

London Market Snapshot October 2015 10/15

London Market Snapshot October 2015 10/15 London Market Snapshot October 2015 10/15 Global Macro Overview Global equities experienced their sharpest falls since 2011, with most major markets moving into correction territory (a fall of more than

More information

Business Outlook Survey Results of the Spring 2016 Survey Vol. 13.1 1 April 2016

Business Outlook Survey Results of the Spring 2016 Survey Vol. 13.1 1 April 2016 Business Outlook Survey Results of the Spring 2016 Survey Vol. 13.1 1 April 2016 Business sentiment in the spring Business Outlook Survey improved but remains subdued overall. The positive impetus coming

More information

Eurozone. EY Eurozone Forecast September 2013

Eurozone. EY Eurozone Forecast September 2013 Eurozone EY Eurozone Forecast September 213 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Outlook for Finland

More information

Manpower Employment Outlook Survey Norway

Manpower Employment Outlook Survey Norway Manpower Employment Outlook Survey Norway Q2 2015 The Manpower Employment Outlook Survey for the second quarter 2015 was conducted by interviewing a representative sample of 751 employers in Norway. All

More information

LEE BUSI N ESS SCHOOL SOUTHERN NEVADA QUARTERLY ECONOMIC FORECAST. Southern Nevada Economy to Continue Growth in 2014 and 2015

LEE BUSI N ESS SCHOOL SOUTHERN NEVADA QUARTERLY ECONOMIC FORECAST. Southern Nevada Economy to Continue Growth in 2014 and 2015 CENTER FOR BUSINESS & ECONOMIC RESEARCH LEE BUSI N ESS SCHOOL SOUTHERN NEVADA QUARTERLY ECONOMIC FORECAST Quarter 2 2014 Southern Nevada Economy to Continue Growth in 2014 and 2015 S ince the end of the

More information

Travel & Tourism Trends and Economic Impact. December 2013 Monthly Update

Travel & Tourism Trends and Economic Impact. December 2013 Monthly Update Travel & Tourism Trends and Economic Impact December 2013 Monthly Update Summary Key trends and developments in Travel & Tourism WTTC completed the mid-year update of its economic impact research in October

More information

World Manufacturing Production

World Manufacturing Production Quarterly Report World Manufacturing Production Statistics for Quarter III, 2013 Statistics Unit www.unido.org/statistics Report on world manufacturing production, Quarter III, 2013 UNIDO Statistics presents

More information

FTI Consulting +44 (0)20 3727 1340 Richard Mountain / Susanne Yule

FTI Consulting +44 (0)20 3727 1340 Richard Mountain / Susanne Yule 13 October 2015 THIRD QUARTER 2015 INTERIM MANAGEMENT STATEMENT Highlights* 10.2% Group gross profit growth, good contributions from all four regions FX lowered gross profit by c. 7m (c. 18m YTD) Double-digit

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

Euro Zone s Economic Outlook and What it Means for the United States

Euro Zone s Economic Outlook and What it Means for the United States WELCOME TO THE WEBINAR WEBINAR LINK: HTTP://FRBATL.ADOBECONNECT.COM/ECONOMY/ DIAL-IN NUMBER (MUST USE FOR AUDIO): 855-377-2663 ACCESS CODE: 71032685 Euro Zone s Economic Outlook and What it Means for the

More information

Management Discussions and Analysis for the three-month and six-month period ended 30 June 2014 and 2015

Management Discussions and Analysis for the three-month and six-month period ended 30 June 2014 and 2015 Executive Summary Overview of the global economy during the second quarter of 2015 (Q2/2015) are as following; the US economy has been in recovery mode as a result of an increase in household consumption

More information

Carat forecasts growth of 5.0% for 2012 and 5.3% in 2013 with digital advertising overtaking newspapers sooner than expected

Carat forecasts growth of 5.0% for 2012 and 5.3% in 2013 with digital advertising overtaking newspapers sooner than expected 23 August 2012 Carat forecasts growth of 5.0% for 2012 and 5.3% in 2013 with digital advertising overtaking newspapers sooner than expected Carat, the world s leading independent media communications agency,

More information

EUROSYSTEM STAFF MACROECONOMIC PROJECTIONS FOR THE EURO AREA

EUROSYSTEM STAFF MACROECONOMIC PROJECTIONS FOR THE EURO AREA EUROSYSTEM STAFF MACROECONOMIC PROJECTIONS FOR THE EURO AREA On the basis of the information available up to 22 May 2009, Eurosystem staff have prepared projections for macroeconomic developments in the

More information

Monetary policy assessment of 13 September 2007 SNB aiming to calm the money market

Monetary policy assessment of 13 September 2007 SNB aiming to calm the money market Communications P.O. Box, CH-8022 Zurich Telephone +41 44 631 31 11 Fax +41 44 631 39 10 Zurich, 13 September 2007 Monetary policy assessment of 13 September 2007 SNB aiming to calm the money market The

More information

Business Outlook Survey Results of the Summer 2015 Survey Vol. 12.2 6 July 2015

Business Outlook Survey Results of the Summer 2015 Survey Vol. 12.2 6 July 2015 Business Outlook Survey Results of the Summer 15 Survey Vol. 12.2 6 July 15 The summer Business Outlook Survey points to a diverging outlook across regions. While there are some encouraging signs, owing

More information

The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead

The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead Dr. Peter P. Belobaba MIT Global Airline Industry Program Washington, DC March 26, 2002 Outline Airline Performance 2001 Weakening

More information

Manpower Employment Outlook Survey Ireland

Manpower Employment Outlook Survey Ireland Manpower Employment Outlook Survey Ireland Q1 215 Country Name Employment Outlook The Manpower Employment Outlook Survey for the first quarter 215 was conducted by interviewing a representative sample

More information

CTI shows travel growth softening in January 2016. LTI predicts moderate overall travel growth into 2016, with domestic business travel in decline.

CTI shows travel growth softening in January 2016. LTI predicts moderate overall travel growth into 2016, with domestic business travel in decline. Analysis provided by TRAVEL TRENDS INDE JANUARY 2016 CTI shows travel growth softening in January 2016. LTI predicts moderate overall travel growth into 2016, with domestic business travel in decline.

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE CITIGROUP REPORTS FIRST QUARTER CORE INCOME OF $3.66 BILLION ($0.71 PER SHARE, DILUTED) VS. $3.94 BILLION ($0.76 PER SHARE, DILUTED) IN THE FIRST QUARTER OF 2000 INCOME FROM INVESTMENT

More information

Management s Discussion and Analysis

Management s Discussion and Analysis Management s Discussion and Analysis 6 Financial Policy Sysmex regards increasing its market capitalization to maximize corporate value an important management objective and pays careful attention to stable

More information

PERSONAL RETIREMENT SAVINGS ACCOUNT INVESTMENT REPORT

PERSONAL RETIREMENT SAVINGS ACCOUNT INVESTMENT REPORT PENSIONS INVESTMENTS LIFE INSURANCE PERSONAL RETIREMENT SAVINGS ACCOUNT INVESTMENT REPORT FOR PERSONAL RETIREMENT SAVINGS ACCOUNT () PRODUCTS WITH AN ANNUAL FUND MANAGEMENT CHARGE OF 1% - JULY 201 Thank

More information

EUROPEAN TOURISM in 2013: TRENDS & PROSPECTS. Quarterly Report (Q1/2013)

EUROPEAN TOURISM in 2013: TRENDS & PROSPECTS. Quarterly Report (Q1/2013) EUROPEAN TOURISM in 213: TRENDS & PROSPECTS Quarterly Report (Q1/213) A quarterly insights report produced for the Market Intelligence Group of the European Travel Commission (ETC) by Tourism Economics

More information

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan Stronger Data Lead to Upward Revisions in Purchase Originations Forecast for 2015 and 2016 MBA Economic and Mortgage Finance Commentary: July

More information

Corporate Communications. Media Information 5 November 2013. - Check against delivery - Ladies and gentlemen, Good morning from my side as well.

Corporate Communications. Media Information 5 November 2013. - Check against delivery - Ladies and gentlemen, Good morning from my side as well. - Check against delivery - Statement Dr. Friedrich Eichiner Member of the Board of Management of BMW AG, Finance Conference Call Interim Report to 30 September 2013, 10:00 a.m. Ladies and gentlemen, Good

More information

HIGH-LEVEL SYMPOSIUM Excess Capacity and Structural Adjustment in the Steel Sector

HIGH-LEVEL SYMPOSIUM Excess Capacity and Structural Adjustment in the Steel Sector HIGH-LEVEL SYMPOSIUM Excess Capacity and Structural Adjustment in the Steel Sector 18 April 216, Brussels, Belgium BACKGROUND NOTE NO. 1 LATEST GLOBAL STEEL MARKET DEVELOPMENTS This background document

More information

Market outlook. Kathrine Fog. Capital Markets Day 2015

Market outlook. Kathrine Fog. Capital Markets Day 2015 Market outlook Kathrine Fog Capital Markets Day 215 Agenda market outlook 1 Macroeconomic and downstream outlook 2 Primary metal market 3 Bauxite and alumina market 4 Long-term outlook 2 Macroeconomic

More information

real-time revenue management

real-time revenue management real-time revenue management Today has been another challenging day. This morning, my manager asked me to close down V class availability in August (apparently increasing average yield is the current management

More information

TIMING YOUR INVESTMENT STRATEGIES USING BUSINESS CYCLES AND STOCK SECTORS. Developed by Peter Dag & Associates, Inc.

TIMING YOUR INVESTMENT STRATEGIES USING BUSINESS CYCLES AND STOCK SECTORS. Developed by Peter Dag & Associates, Inc. TIMING YOUR INVESTMENT STRATEGIES USING BUSINESS CYCLES AND STOCK SECTORS Developed by Peter Dag & Associates, Inc. 5 4 6 7 3 8 3 1 2 Fig. 1 Introduction The business cycle goes through 4 major growth

More information

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Research Report DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Second Quarter 2013 Economic Outlook Business and consumer spending to drive recovery Quantitative easing beginning its expected unwinding

More information

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting Outlook for European Real Estate in 2013 Mark Charlton, Head of Research & Forecasting Tuesday 20 th November 2012 Europe - uncertainty continues to buffet sentiment Oct 06 Oct 07 Oct 08 Oct 09 Oct 10

More information

World Manufacturing Production

World Manufacturing Production Quarterly Report World Manufacturing Production Statistics for Quarter IV, 2013 Statistics Unit www.unido.org/statistics Report on world manufacturing production, Quarter IV, 2013 UNIDO Statistics presents

More information

Global outlook: Healthcare

Global outlook: Healthcare Global outlook: Healthcare March 2014 healthcare 1 Today s presenters Ana Nicholls Managing Editor, Industry Briefing Economist Intelligence Unit Lauren Brayshaw Marketing executive Economist Intelligence

More information

Danske Bank May 4th 2016 Economic Update,

Danske Bank May 4th 2016 Economic Update, Monthly update: 4 May 2016 Danske Bank Chief Economist, Twitter: angela_mcgowan Local job and investment announcements during April 2016: Over the month of April 2016 there were no new job announcements

More information

CHEMSYSTEMS. Report Abstract. Quarterly Business Analysis Quarter 1, 2012

CHEMSYSTEMS. Report Abstract. Quarterly Business Analysis Quarter 1, 2012 CHEMSYSTEMS PPE PROGRAM Report Abstract Quarterly Business Analysis Petrochemical Cost Price and Margin for Olefins, Polyolefins, Vinyls, Aromatics, Styrenics, Polyester Intermediates and Propylene Derivatives.

More information

Meeting with Analysts

Meeting with Analysts CNB s New Forecast (Inflation Report II/2015) Meeting with Analysts Petr Král Prague, 11 May, 2015 1 Outline Assumptions of the forecast The new macroeconomic forecast Comparison with the previous forecast

More information

UK Macro Economic Forecast. Sample

UK Macro Economic Forecast. Sample UK Macro Economic Forecast CONTENTS 1. Summary Prospects Key Risks 2. Recent Trends PMI Services GDP % q-on-q 3. Two Year Outlook GDP % y-on-y Investment 4. Longer Term Outlook 5. Consumers Consumer spending

More information

TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W

TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W TIGER AIRWAYS ALMOST TRIPLES PROFIT BEFORE TAX TO $57.0 MILLION FOR THE FINANCIAL YEAR

More information

BMW Motorrad delivered more than 47,000 motorcycles from April to June its highest-ever quarterly figures.

BMW Motorrad delivered more than 47,000 motorcycles from April to June its highest-ever quarterly figures. Media Information - Check against delivery - Statement Dr. Friedrich Eichiner Member of the Board of Management of BMW AG, Finance Conference Call Interim Report to 30 June 2015, 10:00 a.m. Ladies and

More information

Statement by. Janet L. Yellen. Chair. Board of Governors of the Federal Reserve System. before the. Committee on Financial Services

Statement by. Janet L. Yellen. Chair. Board of Governors of the Federal Reserve System. before the. Committee on Financial Services For release at 8:30 a.m. EST February 10, 2016 Statement by Janet L. Yellen Chair Board of Governors of the Federal Reserve System before the Committee on Financial Services U.S. House of Representatives

More information

LEE BUSI N ESS SCHOOL UNITED STATES QUARTERLY ECONOMIC FORECAST. U.S. Economic Growth to Accelerate. Chart 1. Growth Rate of U.S.

LEE BUSI N ESS SCHOOL UNITED STATES QUARTERLY ECONOMIC FORECAST. U.S. Economic Growth to Accelerate. Chart 1. Growth Rate of U.S. CENTER FOR BUSINESS & ECONOMIC RESEARCH LEE BUSI N ESS SCHOOL UNITED STATES QUARTERLY ECONOMIC FORECAST O U.S. Economic Growth to Accelerate ver the past few years, U.S. economic activity has remained

More information

UK commercial property provides investors with strongest returns in 2014 Global Equity levels at record high

UK commercial property provides investors with strongest returns in 2014 Global Equity levels at record high NOT FOR BROADCAST OR PUBLICATION BEFORE 00.01 HRS THURSDAY 27 th NOVEMBER 2014 Lloyds Bank Private Banking Assetwatch report tracks the value of nine asset groups. The asset classes are UK Shares, Global

More information

2013 2014e 2015f. www.economics.gov.nl.ca. Real GDP Growth (%)

2013 2014e 2015f. www.economics.gov.nl.ca. Real GDP Growth (%) The global economy recorded modest growth in 2014. Real GDP rose by 3.4%, however, economic performance varied by country and region (see table). Several regions turned in a lackluster performance. The

More information

MOVING FORWARD SLOWLY

MOVING FORWARD SLOWLY GRUNDFOS MACHINING INDUSTRY MOVING FORWARD SLOWLY UPDATE ON THE ECONOMIC SITUATION AND DEVELOPMENT IN SELECTED SECTORS be think innovate business indicator report 2 GRUNDFOS MACHINING INDUSTRY CONTENTS

More information

SALES TO 31 MARCH 2016. 21 April 2016

SALES TO 31 MARCH 2016. 21 April 2016 SALES TO 31 MARCH 2016 Contents 3 Executive summary 15 Conclusion 8 Sales analysis 17 Appendices All growth data specified in this presentation refers to organic growth (constant FX and Group structure),unless

More information

consolidated period won. IT & Mobile Systems, solid growth an uptick in continue in PC DRAM recovery application

consolidated period won. IT & Mobile Systems, solid growth an uptick in continue in PC DRAM recovery application Samsung Electronics Announces First Quarter 2012 Earnings Results Postss record operating profit of 5.85 trillion won on consolidatedd revenues of 45.27 trillion won SEOUL, Korea April 27, 2012 Samsung

More information

Air China Limited Announces 2013 Annual Results

Air China Limited Announces 2013 Annual Results Air China Limited Announces 2013 Annual Results Hong Kong March 26, 2014 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

More information

Steel Industry Executive Summary: July 2016

Steel Industry Executive Summary: July 2016 Steel Industry Executive Summary: July 2016 Highlights From April to May 2016, U.S. imports of steel mill products increased 15.8% to 2.6 million metric tons from 2.2 million metric tons In May 2016, the

More information

Markit Global Business Outlook Survey

Markit Global Business Outlook Survey News Release EMBARGOED UNTIL: 00:01 (UK), 14 July 2014 Markit Global Business Outlook Survey Worldwide business confidence wanes Global optimism slips from two-year high Waning confidence centred on eurozone

More information

US Economic Outlook. How long will the ride last? IHS ECONOMICS. US Outlook

US Economic Outlook. How long will the ride last? IHS ECONOMICS. US Outlook IHS ECONOMICS US Outlook US Economic Outlook How long will the ride last? December 2014 ihs.com Douglas Handler, IHS Chief US Economist, +1 781 301 9283, doug.handler@ihs.com US Economic Overview 2 Executive

More information

Massachusetts Department of Revenue. Briefing Book FY2015 Consensus Revenue Estimate Hearing. December 11, 2013. Presented by: Amy Pitter COMMISSIONER

Massachusetts Department of Revenue. Briefing Book FY2015 Consensus Revenue Estimate Hearing. December 11, 2013. Presented by: Amy Pitter COMMISSIONER Massachusetts Department of Revenue Briefing Book FY2015 Consensus Revenue Estimate Hearing December 11, 2013 Presented by: Amy Pitter COMMISSIONER Kazim P. Ozyurt DIRECTOR OFFICE OF TAX POLICY ANALYSIS

More information

CREDIT UNION TRENDS REPORT

CREDIT UNION TRENDS REPORT CREDIT UNION TRENDS REPORT CUNA Mutual Group Economics December (October Data) Highlights During October, credit unions picked up 3, in new memberships, loan balances grew at a.% seasonallyadjusted annualized

More information

an tic i pate {an`tisəˌpāt/}

an tic i pate {an`tisəˌpāt/} an tic i pate {an`tisəˌpāt/} Air international traffic in Middle East: Drivers and trends Valencia 02nd May 2013 Use the power of global air reservation data to monitor and benchmark your destination s

More information

Project LINK Meeting New York, 20-22 October 2010. Country Report: Australia

Project LINK Meeting New York, 20-22 October 2010. Country Report: Australia Project LINK Meeting New York, - October 1 Country Report: Australia Prepared by Peter Brain: National Institute of Economic and Industry Research, and Duncan Ironmonger: Department of Economics, University

More information

No January 2013

No January 2013 GLOBAL FDI RECOVERY DERAILS No. 11 23 January 2013 HIGHLIGHTS Global foreign direct investment (FDI) inflows declined by 18% in 2012, to an estimated US$1.3 trillion (figure 1) a level close to the trough

More information

Wheat Import Projections Towards 2050. Chad Weigand Market Analyst

Wheat Import Projections Towards 2050. Chad Weigand Market Analyst Wheat Import Projections Towards 2050 Chad Weigand Market Analyst January 2011 Wheat Import Projections Towards 2050 Analysis Prepared by Chad Weigand, Market Analyst January 2011 Purpose The United Nations

More information

The lower energy and feedstock prices overall have the following effects:

The lower energy and feedstock prices overall have the following effects: Impact of lower oil price on the European Chemical Industry Executive summary Oil prices have seen a rapid drop over the past six months with the price per barrel sinking to its lowest point since 2009.

More information

Agents summary of business conditions

Agents summary of business conditions Agents summary of business conditions Q Activity had generally grown solidly on a year earlier, with contacts attributing increased demand to rises in real incomes and credit availability. Growth among

More information

PRESS RELEASE. Revenue as of March 31, 2011. Sharp growth in Bureau Veritas Q1 2011 revenue Revenue up 23% to 775 million Organic growth of 6.

PRESS RELEASE. Revenue as of March 31, 2011. Sharp growth in Bureau Veritas Q1 2011 revenue Revenue up 23% to 775 million Organic growth of 6. 1 PRESS RELEASE Neuilly-sur-Seine, France, May 4, 2011 Sharp growth in Bureau Veritas Q1 2011 revenue Revenue up 23% to 775 million Organic growth of 6.5% Frank Piedelièvre, Chairman and Chief Executive

More information

ABB Q3: Solid performance across the business

ABB Q3: Solid performance across the business ABB Q3: Solid performance across the business Revenues 1 and operational EBITDA 2 higher in all divisions, net income up 10 percent Base orders 3 return to year-on-year growth, large project awards remain

More information

RICS Global Commercial Property Monitor Q4 2014

RICS Global Commercial Property Monitor Q4 2014 Simon Rubinsohn Chief Economist srubinsohn@rics.org +44 (0)207334 3774 RICS ECONOMICS RICS Global Commercial Property Monitor Q4 2014 * RICS Occupier Sentiment Index (OSI) is constructed by taking an unweighted

More information

UNIFE World Rail Market Study

UNIFE World Rail Market Study UNIFE World Rail Market Study Status quo and outlook 2020 Commissioned by UNIFE, the European Rail Industry And conducted by The Boston Consulting Group 2 1 Executive Summary This is the third "World Rail

More information

Impact of low crude prices on refining. February 2015. Tim Fitzgibbon Agnieszka Kloskowska Alan Martin

Impact of low crude prices on refining. February 2015. Tim Fitzgibbon Agnieszka Kloskowska Alan Martin Impact of low crude prices on refining February 2015 Tim Fitzgibbon Agnieszka Kloskowska Alan Martin The recent fall in crude oil prices has coincided with both higher and lower profitability in the downstream

More information

Weiqiao Textile Announces its 2015 Interim Results

Weiqiao Textile Announces its 2015 Interim Results Weiqiao Textile Announces its 2015 Interim Results Seize new opportunities in new normal development phase Continued leadership against the backdrop of industry changes Financial Summary Revenue was approximately

More information

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific A Report by Research For Travel Ltd July 2012 Research For Travel Ltd The Impact of The European Crisis on Travel

More information

Press Release. 2014 Q1 key figures Q1 14 Q1 13 Change

Press Release. 2014 Q1 key figures Q1 14 Q1 13 Change ABB reports four divisions on track, "Step change" program in Power Systems Orders stable on a like-for-like 1 basis, early-cycle trends remain positive Operational EBITDA 2 steady, excluding Power Systems

More information

Sustained revenue growth in Q Like-for-like increase of 5.6% * * * HotelServices: +7.6% HotelInvest: +4.8%

Sustained revenue growth in Q Like-for-like increase of 5.6% * * * HotelServices: +7.6% HotelInvest: +4.8% Press release Paris, April 16, 2015 Sustained revenue growth in Like-for-like increase of 5.6 * * * HotelServices: +7.6 HotelInvest: +4.8 First-quarter 2015 business activity was strong across all of the

More information

Air China Limited Announces 2014 Annual Results

Air China Limited Announces 2014 Annual Results Air China Limited Announces 2014 Annual Results Hong Kong March 26, 2015 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

More information

OVERVIEW. A cyclical upswing is underway favoured by several temporary tailwinds

OVERVIEW. A cyclical upswing is underway favoured by several temporary tailwinds OVERVIEW A cyclical upswing is underway favoured by several temporary tailwinds whose strength underpins an upward revision to the growth forecast this year The outlook for economic growth in the EU has

More information

Fiscal Year 2015 Third Quarter Conference Call

Fiscal Year 2015 Third Quarter Conference Call Fiscal Year 2015 Third Quarter Conference Call July 29, 2015 Copyright 2015 Rockwell Automation, Inc. All Rights Reserved. 2 Safe Harbor Statement This presentation includes statements related to the expected

More information

Summary. Economic Update 1 / 7 May 2016

Summary. Economic Update 1 / 7 May 2016 Economic Update Economic Update 1 / 7 Summary 2 Global World GDP is forecast to grow only 2.4% in 2016, weighed down by emerging market weakness and increasing uncertainty. 3 Eurozone The modest eurozone

More information

UK Economic Outlook. July 2015. UK housing market outlook: the continuing rise of Generation Rent

UK Economic Outlook. July 2015. UK housing market outlook: the continuing rise of Generation Rent July 2015 UK Economic Outlook UK housing market outlook: the continuing rise of Generation Rent Does trade hold the key to the UK services productivity puzzle? Visit our blog for periodic updates at: pwc.blogs.com/economics_in_business

More information

Manpower Employment Outlook Survey Singapore Q3 2014. A Manpower Research Report

Manpower Employment Outlook Survey Singapore Q3 2014. A Manpower Research Report Manpower Employment Outlook Survey Singapore Q3 14 A Manpower Research Report Contents Q3/14 Singapore Employment Outlook 2 Sector Comparisons Global Employment Outlook 6 International Comparisons - Asia

More information

A Strong Housing Recovery Fuels Growth

A Strong Housing Recovery Fuels Growth Chapman University A. Gary Anderson Center for Economic Research FOR RELEASE: ONLINE: June 12, 2013; 10:00 a.m. PRINT: June 13, 2013 CONTACT: James Doti, President and Donald Bren Distinguished Chair of

More information

Long-Term Economic Outlook: 2014-2024 Spring 2014

Long-Term Economic Outlook: 2014-2024 Spring 2014 Long-Term Economic Outlook: 2014-2024 Spring 2014 Economic Forecasting and Analysis John Rose Hande Tanerguclu Chief Economist Senior Economist Financial Services & Utilities Financial Services & Utilities

More information

Gauging Current Conditions: The Economic Outlook and Its Impact on Workers Compensation

Gauging Current Conditions: The Economic Outlook and Its Impact on Workers Compensation August 2014 Gauging Current Conditions: The Economic Outlook and Its Impact on Workers Compensation The exhibits below are updated to reflect the current economic outlook for factors that typically impact

More information

Future Growth of the Airline Industry

Future Growth of the Airline Industry Future Growth of the Airline Industry How will global competition drive change? Andrew Herdman Director General Association of Asia Pacific Airlines Geneva, Switzerland 22 February 2011 Overview Current

More information

GENERAL FUND REVENUE REPORT & ECONOMIC OUTLOOK. January 2013 Barry Boardman, Ph.D. Fiscal Research Division North Carolina General Assembly

GENERAL FUND REVENUE REPORT & ECONOMIC OUTLOOK. January 2013 Barry Boardman, Ph.D. Fiscal Research Division North Carolina General Assembly GENERAL FUND REVENUE REPORT & ECONOMIC OUTLOOK January 2013 Barry Boardman, Ph.D. Fiscal Research Division North Carolina General Assembly Highlights General Fund revenue through December is $6.5 million

More information

2016 Year Ahead - Global Investment Outlook

2016 Year Ahead - Global Investment Outlook PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy January 2016 2016 Year Ahead - Global Investment Outlook After Struggling in 2015, Global Equity Markets likely

More information

Boeing Capital Corporation. Current Aircraft Finance Market Outlook 2016. Copyright 2015 Boeing. All rights reserved.

Boeing Capital Corporation. Current Aircraft Finance Market Outlook 2016. Copyright 2015 Boeing. All rights reserved. Boeing Capital Corporation Current Aircraft Finance Market Outlook 2016 The 2016 Current Aircraft Finance Market Outlook forecasts continued strength in the primary aircraft finance sectors, with a growing

More information

Fugro Q trading update: Improved EBIT margin under continuing challenging market conditions

Fugro Q trading update: Improved EBIT margin under continuing challenging market conditions Leidschendam, the Netherlands, 30 October 2015 Fugro Q3 2015 trading update: Improved EBIT margin under continuing challenging market conditions Focus on cost reduction and cash flow maintained Mid-single

More information

RICS Global Commercial Property Monitor Q3 2014

RICS Global Commercial Property Monitor Q3 2014 Simon Rubinsohn Chief Economist srubinsohn@rics.org +44 (0)207334 3774 RICS ECONOMICS RICS Global Commercial Property Monitor Q3 2014 * RICS Occupier Sentiment Index (OSI) is constructed by taking an unweighted

More information

Fixed Income Review. Second Quarter 2015

Fixed Income Review. Second Quarter 2015 Second Quarter 2015 As of June 30, 2015 Total Return Performance Calendar Year Performance Index MTD QTD YTD 2014 2013 2012 Barclays US Aggregate -1.1% -1.7% -0.1% 6.0% -2.0% 4.2% BAML US Agency Index

More information

Joseph E. Zveglich, Jr.

Joseph E. Zveglich, Jr. Joseph E. Zveglich, Jr. Assistant Chief Economist, Asian Development Bank 1 Overseas Development Institute London, 12 April 2012 Key messages Developing Asia to maintain growth momentum despite weak global

More information

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering Research & Strategy Recovery in UK property to gain momentum June 13 Recovery in UK property market to gain momentum This hasn t been a typical recession and it won t be a typical recovery. Nevertheless

More information

UK Economic Outlook. Will consumer spending growth continue to fuel the UK recovery? The future shape of UK exports. November 2015

UK Economic Outlook. Will consumer spending growth continue to fuel the UK recovery? The future shape of UK exports. November 2015 November 215 UK Economic Outlook Will consumer spending growth continue to fuel the UK recovery? The future shape of UK exports Visit our blog for periodic updates at: pwc.blogs.com/economics_in_business

More information