The following data describing the general economic parameters of the global economy stem from S&P Global Market Intelligence (S&P Global).
The modestly increasing global growth momentum at the beginning of 2024 leveled off again in the second quarter. Geopolitical instability induced by wars, tensions between Western countries and China and the fragmentation of Europe’s political landscape is restraining trade, investment activity and consumer confidence in many countries. The anticipated boost of purchasing power for consumer spending has so far primarily benefited the service sector, while the majority of industrial companies still report a weak inflow of new orders.
In June, the European Central Bank cautiously began to ease monetary policy, whereas the US Federal Reserve opted to wait, given the more robust US economy and higher core inflation than in Europe.
In the end markets relevant for DHL Group, B2B volume development was negatively impacted by the development of customers’ inventories in addition to the general economic parameters. In contrast, B2C volumes in parcel business continued to prove resilient. This confirms the structural trend of a shift in consumption toward e-commerce even in a weaker economic environment.
