Updated on October 1, 2024
This State of the Industry report aims to provide a comprehensive analysis of the transportation logistics industry, shedding light on its key drivers, trends, and emerging technologies. By examining the current landscape and forecasting future developments, we seek to equip decision-makers, industry professionals, and stakeholders with valuable insights to navigate the ever-evolving logistics landscape.
With the world becoming increasingly interconnected, the transportation logistics industry faces both immense opportunities and unprecedented challenges. Globalization, e-commerce, and advancements in technology have sparked a seismic shift in consumer expectations, supply chain strategies, and sustainability concerns.
Highlights for the general freight report include:
- Labor Day didn't provide the boost to the freight market that many were hoping for, but volume levels remain elevated month over month and year over year.
- The intermodal market continues to see growth being driven by Southern California markets, thanks in large part to strong import levels.
- The end of maritime peak season is nearing, but import levels at U.S. ports will likely stay elevated into at least mid-October as TEU volumes leaving all global ports were elevated through the first half of September.
- The FOMC decided to cut the federal funds rate by 50 basis points at the September meeting and anticipates at least another 50 bps reduction before the end of the year. This will likely help stimulate the industrial sector, but it has a lagging impact that will likely drag into 2025.
- Consumers continue to spend money even though many anticipated a slowdown in August. A positive sign for consumers is inflation does continue to trend toward the Federal Reserve's target of 2%, suggesting the worst of the inflation is in the rearview.
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