Global trade volumes experienced a 9% rebound in January compared to a year earlier. Ocean freight volumes through nine countries tracked by Panjiva climbed 10% on a year earlier, partly flattered by an 11% increase from China due to the timing of the lunar new year. A 1% drop from the U.S. was due to weak exports and may have reversed in February. Airfreight volumes climbed 8%, including an 11% rise from European airlines making the 22nd straight month of growth. The 9% (unweighted) average of the two suggests freight forwarders’ expectations of 4% growth for this year may be conserv...