The report examines economic trajectory through employment and GDP per capita measures of the 300 largest metro areas in the world that now account for nearly half of all global output.
Truck tonnage rose for the second consecutive month in May, as improving economic conditions and gains in hiring have helped trucking performance.
The job openings rate in the overall economy hovered at record highs at the start of the 2nd quarter, as companies across industries continue to struggle to find workers. Results from the transportation sector show an industry facing a significant challenge, and wages will likely face additional pressure to rise in upcoming months.
Candid conversations with leaders in the logistics/truck freight brokerage industry.
Results from the Federal Reserve’s Beige Book suggest that manufacturers have shrugged off tariff concerns and are enjoying stronger growth in the 2nd quarter. Labor shortages remain an issue however, broadening beyond the trucking industry.
A panel of financial experts were mixed when asked whether the industry would see higher spot rates one year from now, but continued capacity issues was not in debate.
Cashflow Corner presented by TriumphPay …If you’ve fueled up your truck recently, you know that the cost is climbing. Fortunately, there are some driver behaviors that can be changed to minimize fuel usage.
Output from the nation’s industrial sector climbed for the third consecutive month, as broad gains across industries helped compensate for a lull in auto production. This serves as yet another sign that freight demand will remain solid in the 2nd quarter.
Retail activity improved again in April, helping to reinforce the idea of stronger consumer spending in the 2nd quarter. This should help sustain freight demand as retailers look for inventory replenishment and last mile residential delivery services
Cashflow Corner presented by TriumphPay …One of the most costly tasks for small companies is chasing down accounts for payment, which is why many smaller fleets and owner-operators turn to factoring companies.
Job openings pushed to a fresh record high at the end of the 1st quarter, indicating that labor market conditions remain healthy in the overall economy. The openings rate in the transportation sector continues to outpace the rest of the economy, and the pace of hiring provides further evidence that the industry is struggling to find workers.
The industrial real estate prices have been up for a long time and if market trends are to be believed, they could be climbing for the next few years.
Economic conditions as they relate to freight generally improved during the month. With a few notable exceptions, most of the data released in April (largely covering March activity) either met or exceeded expectations and signal that freight demand will likely stay strong going forward.
Truck tonnage fell for the second consecutive month despite generally solid economic conditions. Responses from survey data suggests that the freight is out there, but capacity is preventing tonnage growth
Sales of single-family homes improved for the 2nd consecutive month in a sign that housing activity is beginning to accelerate at the start of spring. This, in turn, should boost freight demand for building materials, furniture, and appliances as households move in and settle.
Responses from the Federal Reserve’s Beige Book on regional economic conditions show that recent tariffs and capacity issues in freight are starting to pressure businesses.
Positive news from both manufacturing and construction sectors, as gain in each help drive up freight demand in the economy
Retail sales rebounded in March after declining in each of the previous three months. This rebound is a return to normal for the retail sector after some volatility in spending following the hurricane season.
Job growth has improved since the start of the year in the trucking industry. While this is strong step in address the driver shortage, the industry will soon find itself having to compete long-term with other industries desperately searching for skilled labor.
Data from the Producers Price Index showed that prices for trucking services remain high, and a spillover in demand may be causing a surge in intermodal rates.
