Industry Indicators: August 15 - 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