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Trade rebound chimes with better news on supply chains

After gradually trending lower for much of last year, November marked the second consecutive month of strong growth in world trade, which reached a new record high. This adds to evidence that some product shortages began to ease towards the end of 2021. Even so, it will be well into 2022 at least before shipping bottlenecks improve materially. In the meantime, freight rates are likely to remain elevated.

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