Headlines & Graphics from the Economic Landscape: September 2023

Road ScholarGraphs
Written By Jennifer Joslyn

We're diving deep into a dynamic landscape of economic trends and public sentiments: EV Adoption, Driver Behavior, National Debt, & more.

EV-ery Milestone: 2 Million Volt-unteers!

The U.S. surpassed 2 million EVs in 2021. 

a graph displaying the number of registers light-duty electric vehicles in the US.

Shipping in Rough Waters

The Cass Freight Indices indicate that it's a challenging period for shipping businesses. The current numbers closely resemble those during the Covid crash and previous recessions.

Graph displaying the Cass Freight Indices YoY percentage change.

Brits Fueling Discontent

Brits are growing increasingly negative toward the ban on new gas and diesel cars. 

Visual representation of options of banned gas and diesel cars in the UK between November 2020 and July 2023.

Global Wealth Palette

Graphic displaying the top countries forecasted to gain and lose the most high-net worth individuals in 2023.

Pre-Election Frustration

Americans are exhausted and angry, and it's not even election season yet.

Graph displaying how Americans feel when they think about politics.
Graphic displaying the share of Americans with unfavorable views of both parties quadrupling.

Cargo Climbs, Still Off-Peak

Container import volume rose slightly in August but remains well below last year.

A graph displaying US container import volume from 2019-2023.

Truck Orders: Bumps and Peaks

Class 8 truck orders in August 2023 dropped 9% (YOY) but were the highest since February 2023.

Graph displaying Class 8 truck orders from 2022-2023.

Fuels Surge Upward

Diesel and gas prices once again on the rise. 

Graph displaying the national average price between unleaded gasoline and diesel.

Mineral Demand Charges Ahead

Projected demand for select minerals and rare earth elements, crucial for EV batteries (000’s of tons).

Graph displaying the projected demand of rare earth minerals.

China's Elemental Reign

China dominates the refining of minerals and elements.

Graph displaying the percentage China has of the global mining market.

Arizona: Road Rage Capital

States with the most confrontational drivers – Forbes survey

A visual displaying that the state of Arizona is the state with the most road rage.

Truck Tonnage Inches Up, Lags Behind

Truck tonnage rose slightly by 0.2% in August but remained 2.3% below the previous year.

Graph displaying the truck tonnage index.

Tesla Time: Pre-Owned Potential

It appears to be a good time to buy a used Tesla.

Graph displaying the average price of a used Tesla.

Debt Skyrocketing

The growth of the U.S. national debt is astounding. It's currently at $33 trillion, which amounts to $98,927 for every person in the United States. The daily interest on the debt is $2 billion.

Visual representation of how US national debt has grown from 1923 through 2023.

Small Business Confidence Soars

The Small Business Index has reached its highest score since the beginning of the pandemic, indicating that small business owners perceive an improving economy. The index, which measures small business owners' confidence, jumped from 63.1 to 69.2 this quarter.

Graph displaying the small business index score.

Government Trust Plummets Again

Public trust in the government has returned to near-record lows. Fewer than 2 in 10 Americans say they trust the government in Washington to do what is right 'just about always' (1%) or 'most of the time' (15%).

A graph displaying the % who say that they trust the government.
Jennifer Joslyn
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