Ctrack Logistics Barometer shows encouraging upward momentum
The Ctrack Logistics Barometer aims to be an accurate indicator of the state of the South African economy, particularly in terms of the goods economy, explains economists.co.za’s Mike Schüssler, a well-known economist, who is responsible for compiling the barometer.
It is a good way of seeing how things are running in the economy and it could also be viewed as a performance gauge of the South African logistics and supply chain industries.
“The barometer allows the media and the business community to better understand how the logistics industry in South Africa is performing,” says Ctrack South Africa MD Hein Jordt. This allows businesses involved in the sector to make better strategic decisions.
Schüssler adds that the barometer is not a forward-looking instrument, able to predict South Africa’s economic performance, but rather a tool to look at the transport industry in “a more informed way”.
He notes that the barometer does, largely, reflect South Africa’s economic growth cycles.
The Ctrack barometer is made up of 6 main subsectors which are:
Measurements are all in either volume or real terms so that real changes can be measured.
Mike Schüssler says that measuring the transport industry is a valuable exercise as South Africa’s logistics costs the economy 11.2% of GDP.
“Logistics gives a fair idea of how things are on the ground in the real economy,” says Schüssler.
He also notes that The Ctrack Logistics Barometer for the end of July 2019, compared with the end of July 2018, shows fairly reasonable growth at 2.7%.