The global contract logistics industry continues to perform well despite the economic gloom, according to a new survey.

The survey, from market intelligence firm Transport Intelligence, found that the worldwide contract logistics industry grew by 9% to just over €140bn (£111bn) in 2007.

The slowdown appears to be restricted to the US market where the contract logistics market grew by just under 7% in 2007, a significant drop from its 10% plus growth in 2006, while the Asia Pacific region grew by in excess of 11%.

John Manners-Bell, chief executive of Transport Intelligence, said: “So far, the contract logistics industry has shrugged off talk of the economic downturn and even in the US, where the transport industry is struggling, growth rates are remarkably good. However, we believe that markets around the world will inevitably be affected by the ‘credit crunch’ and a loss of consumer confidence. Consequently, we are downgrading our forecasts for the industry accordingly.”