While the latest signs are that capacity constraints in global shipping are continuing to bite, we expect these to subside over the course of the year. Indeed, as vaccine rollouts allow economies to reopen, the pace of the recovery in goods trade should slow as consumer demand shifts away from goods and back towards services. In older news, real world goods trade continued to rebound in December.

Read the publication Shipping strains to ease as goods demand moderates on the Capital Economics Website.

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