The dreaded “R” word - US enters recession, Asia pays the price

The US economy may not have entered recession according to official definitions – yet – but the highly respected National Bureau of Economic Research estimates the US economy has been in recession since Dec-07. Recent economic index and the performance of the share market and oil prices would suggest the downturn facing the US could be protracted. [1097 words]

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This report contains the following subheadings:

• Asian air freight figures point to dramatic economic slowdown
• Airports Council International expects a recovery will be a "long time coming"
• Bleak outlook

This report contains the following charts and tables:

• Asia Pacific vs Industry international passenger traffic (RPKs) growth (% change year-on-year): Nov-07 to Oct-08
• Asia Pacific vs Industry international passenger capacity (ASKs) growth (% change year-on-year): Nov-07 to Oct-08
• IATA International passenger traffic growth by region (% change year-on-year): Nov-07 to Oct-08
• Asia Pacific international freight traffic growth and freight capacity growth (% change year-on-year): Nov-07 to Oct-08
• Asia Pacific international passenger traffic growth and passenger capacity growth (% change year-on-year): Nov-07 to Oct-08
• Asia Pacific international passenger numbers growth (% change year-on-year) and passenger load factors (%): Nov-07 to Oct-08
• ACI passenger traffic growth (% change year-on-year): Nov-07 to Oct-08
• ACI passenger traffic growth (% change year-on-year) at Asia Pacific airports: Nov-07 to Oct-08
• ACI passenger traffic growth (% change year-on-year): 12 months to Oct-08, ten months to Oct-08 and Oct-08