Industry Indicators: August 15 - 21st
Industry Indicators: August 15 - 21st
iLevel Logistics presents intriguing data that offers a snapshot of notable industry changes and events during the weeks of August 15th through the 21st.
New Business Starts, Warehouse Employment, Truck Profits, Delta Anxiety, Trailer Orders, Used Truck Prices, COVID-19 cases in China, World Container Index, Truck Market Conditions, Diesel Prices, Inflation
2020 a tough year - but the number of new businesses soar
Source: OBERLO
Third quarter of 2020 surged ahead of past years – causes cited: people losing their jobs during pandemic, adopting to changing consumer demands, and new business to supplement income lost during pandemic.
Warehouse employment new record in July
Source: SupplyChainDive
Truckload carriers realizing record profits so far in 2021
Source: FleetOwner
With exploding sales, and supply chain bottlenecks, inventories cannot keep pace. A historical low ratio – well below goal range.
The Delta virus increases anxiety about economy
Source: Business Insider
The drop in consumer sentiment demonstrates a genuine lack of confidence about the health of the economy – beating lows from spring 2020 – seventh largest dip in the last five decades.
Trailer orders struggle to meet high demand – the problems supply chain, staffing, and material shortages.
Source: HDT Truckinginfo
High spot rates increase used truck prices
Source: DAT
COVID-19 cases rise in China - so too does congestion in major Chinese Ports
Source: SupplyChainBrain
Composite container index and spot rates by major east-west trade routes
Source: Drewry
For 18 consecutive weeks, the Drewry World Container Index increased.
FTR index shows truck carriers market condition remain strong
Source: DCVelocity
Diesel Fuel Prices Down slightly nationally
Source: EIA
Inflation – explained by the price of a stuffed Giraffe
Source: Yahoo News
