📈🇫🇷🏆 Growth Spurt, Olympic Overreach, & Supply Chain Champions
Good morning! ☀️
Welcome to The Workday Dash, where we deliver your daily dose of supply chain scoop faster than a just-in-time delivery.
👉 First up, the US economy is flexing its muscles with a surprise 2.8% GDP growth in Q2, outpacing the predicted 2%. Looks like we’re all in for a busier and more prosperous ride.
👉 Across the pond, the Paris Games are cranking up security. Authorities have placed 155 people under surveillance using a 2017 anti-terror law. Let’s hope our supply chain remains as agile as ever amid these tight controls.
👉 And lastly, a power team of labor unions, maritime shipping giants, and supply chain businesses have formed the Supply Chain Council. Their mission? To push for more domestic infrastructure investment and beef up our supply chain resilience. Talk about teamwork making the dream work.
Stay tuned for more insights and updates to keep your day running smoothly.
“Many of life’s failures are people who did not realize how close they were to success when they gave up.”
US Economy Surpasses Expectations in Q2
🚀 The US economy grew faster than expected in Q2, with GDP up 2.8% compared to the predicted 2%. This beats the revised 1.4% growth in Q1. The "core" PCE index (excluding food and energy) rose by 2.9%, slightly above estimates but down from 3.7% in the previous quarter.
Investors are eyeing these numbers to guess when the Federal Reserve might cut interest rates. With strong private domestic demand, experts believe the Fed isn't in a rush. Neil Dutta from Renaissance Macro suggests the Fed will use upcoming meetings to prep for potential rate cuts in September.
🔗 Read more at Finance Yahoo >
WHY IS THIS IMPORTANT?
Why does the US economy's growth matter to us in transportation and logistics? Simple: a booming economy means more goods being produced, bought, and moved around. This means more demand for shipping, trucking, and all the logistics services we provide. Plus, if the Fed cuts interest rates, borrowing could become cheaper, making it easier for our industry to invest in new equipment or expand operations.
🔥 OUR HOT TAKE?
With the US economy outpacing expectations, it’s time to buckle up for a busy season in logistics. More growth means more goods to move and opportunities to seize! Let’s get ready to ride this wave!
French Paramedic Caught in Olympic Security Net
🚨 Seifelislam Benadda, a 28-year-old French paramedic, found himself in a tough spot on July 1 when he was barred from leaving his Paris suburb due to suspicions of being a threat to the upcoming Olympic Games. For nine days, instead of driving his ambulance, he had to check in daily at the local police station and fight the accusation that he posed a terrorist risk.
As part of heightened security for the Paris Games, authorities used powers from a 2017 anti-terror law, placing 155 people under surveillance. Benadda, never accused of terrorism, was targeted due to his brothers' past convictions. Despite thin evidence, the measures were eventually overturned, and he returned to work. This case highlights the balance between security and personal liberty, with critics arguing that the measures were excessive and sometimes unjustly applied.
🔗 Read more at Reuters >
WHY IS THIS IMPORTANT?
Big events like the Olympics lead to increased security measures, which can cause disruptions and delays in transport routes, affecting delivery schedules. Understanding these security dynamics can help us plan better and stay ahead of potential logistical hiccups.
🔥 OUR HOT TAKE?
With the Olympics ramping up security measures, it's a reminder for us in logistics to expect the unexpected and have contingency plans in place for potential delays and route changes. Stay prepared and keep those plans flexible! 💪🚚
New Trade Group Pushes for Supply Chain Investment
🚢 Labor unions, maritime shipping interests, and supply chain businesses have teamed up to form the Supply Chain Council, aiming to boost domestic infrastructure investment and enhance supply chain resilience. The members include Prologis, Johnson Controls, Sierra Northern Rail Company, SSA Marine, and the Laborers’ International Union of North America.
Josh Wood, CEO of the Supply Chain Council, emphasized the importance of viewing the supply chain as interconnected rather than separate segments. The group will advocate for comprehensive policies to strengthen supply chain resiliency and jobs.
Steven Hussain of Prologis highlighted that current policies often overlook the supply chain's interconnectivity, potentially harming different segments. He pointed to recent issues like the CrowdStrike IT outage as evidence of the need for better coordination and data sharing.
Josh LaFarga from the Laborers’ International Union stressed the importance of including labor in these discussions, noting that a resilient supply chain benefits everyone, from workers to consumers. However, automation remains a contentious issue, with unions like the International Longshoremen’s Association concerned about job losses.
The Council's goal is to educate officials on the global competitiveness of U.S. ports and the need for sustainable investment.
🔗 Read more at CNBC >
WHY IS THIS IMPORTANT?
They're pushing for more infrastructure investment and policies that consider the whole supply chain, not just bits and pieces. This could mean smoother operations, fewer bottlenecks, and overall better conditions for moving goods around.
🔥 OUR HOT TAKE?
With the Supply Chain Council rallying for holistic policies, we're looking at a future where logistics could become way more efficient.
Daily Riddle:
I grow when nurtured, though unseen,
I thrive in markets, lean or green.
I’m measured by the highs and lows,
In every nation's pulse, I show.
What am I?
___________
Previous Riddle Answer: Oil Drum
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for September 20, 2024, from iLevel Logistics Inc.