INSIGHTS The recent contraction of global trade moderated to a near-neutral level midway through the first quarter of the year, albeit with regional variations apparent, with India and China leading goods export growth, according to the worldwide PMI surveys compiled by S&P Global Market Intelligence. Trade conditions deteriorated again in February, while the reduction in export orders was marginal. The recent contraction of global trade moderated to a near-neutral level midway through th

INSIGHTS UK retail sales rose by 1.1 per cent YoY in February 2025, matching last year's growth but below the 3-month average of 2.4 per cent. Non-Food sales were flat, with in-store sales down 1.0 per cent and online sales up 1.9 per cent. BRC's Helen Dickinson noted weak fashion sales due to weather, while KPMG's Linda Ellett highlighted cautious consumer spending and the rise of online shopping. The UK’s total retail sales saw a modest increase of 1.1 per cent year on year (YoY) in

INSIGHTS USDA's March 2025 WASDE report projects a 500,000-bale increase in global cotton production, reaching 120.96 million bales in 2024-25. However, global ending stocks were reduced by 80,000 bales, while exports rose by 200,000 bales. Consumption estimates increased, particularly for Pakistan, Bangladesh, and Egypt. Despite higher production in China, declines in Pakistan and Argentina offset gains. For 2024-25, the United States Department of Agriculture (USDA) has projected an increas

INSIGHTS Adidas achieved strong double-digit growth in FY24, with currency-neutral sales up 12 per cent and a 17 per cent increase in footwear. The gross margin rose to 50.8 per cent, while operating profit surged to €1.4 billion. Q4 saw 19 per cent revenue growth, led by Lifestyle and Performance gains. In 2025, Adidas expects high-single-digit sales growth, driven by product innovation and market expansion. German athletic apparel and footwear company Adidas expects to expand its marke

INSIGHTS Imports at key US ports are set to remain high through spring but may decline year-over-year by summer amid tariff hikes and trade uncertainties. Trump's tariffs on China rose to 20 per cent, and new fees on Chinese-built ships are under consideration. Despite these challenges, container volumes surged in early 2025, though declines in June and July may mark the first dip since 2023. Imports at the key container ports of US are expected to remain high through spring, although volume

INSIGHTS Total global air cargo demand rose by 3.2 per cent YoY in January this year (3.6 per cent for international operations) for the eighteenth consecutive month of growth, according to the International Air Transport Association. Capacity increased by 6.8 per cent YoY in the month (7.3 per cent for international operations). Asia-Pacific airlines saw a 7.5-per cent YoY demand growth in January. Total global air cargo demand, measured in cargo tonne-kilometers (CTK), rose by 3.2 per cent

INSIGHTS The political struggle among some top trading nations may have taken its first nibble at global e-commerce volumes in February's global air cargo market data, with spot rates from Shanghai to the US falling by 29 per cent month on month, Xeneta said. Global air cargo demand grew by 4 per cent YoY in February, marking a continued slowdown from the double-digit growth seen in each month in 2024. The political game of ‘cat and mouse’ among some of the world’s biggest t

INSIGHTS China aims at achieving a 5-per cent economic growth rate this year, a government work report submitted to the national legislature said. The country's economic growth rate was 5 per cent last year. Other key development goals outlined for this year in the report include a surveyed urban unemployment rate of around 5.5 per cent, over 12 million new urban jobs and a close to 2-per cent CPI rise. China aims at achieving a 5-per cent economic growth rate this year, according to a govern

INSIGHTS ICE cotton has declined in five of the last six sessions, with March and July 2025 contracts hitting new lows. A stronger US dollar and falling crude oil prices pressured the market, while traders await key USDA reports. Market activity has shifted to later contracts, reducing volatility. May 2025 ICE cotton settled at 66.87 cents per pound, with broad-based selling across the market. ICE cotton has recorded five declines in the last six sessions for most contracts, reflecting contin

INSIGHTS China's manufacturing PMI was 50.2 in February this year—up by 1.1 percentage points from the previous month and bouncing back to the expansion zone, official data show. The February PMI data was affected by factors like enterprises resuming production after the Spring Festival holiday. The sub-indices of production and new orders came in at 52.5 and 51.1 respectively. China’s manufacturing purchasing managers' index (PMI) was 50.2 in February this year—up by 1.1 pe