Mainland air cargo volume posted its biggest decline of the year in November as US and European consumers cut back spending on luxury goods, the South China Morning Post reported. Mainland airlines carried 11.3% less cargo in November than in the same period a year earlier, with shipments bound for Hong Kong and Macau decreasing by 22.4%. By comparison, in October cargo volume dropped by 3.1% year-on-year. Executives told the paper that they expect air cargo growth to remain weak for several quarters. "The weakening in air shipments will continue to haunt us because demand for high-end products, such as electronics and high-fashion goods, is withering," said Chen Daqian, the vice-president of China Cargo Airlines.
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