Manufacturing slides in August but still showing growth, reports ISM
The Institute for Supply Management’s (ISM) August edition of the Manufacturing Report on Business saw its PMI, the ISM’s index to measure growth, fall 1.6 percent to 51.1, following a 0.8 percent decline to 52.7 in July. Even with the relatively slow growth over the last two months, the PI has been at 50 or higher for 31 consecutive months.
Hackett Associates Global Trade Pulse points to mixed economic signals in the U.S. and Europe
Hackett observed in the new report that China’s economy has lost steam, with actual growth falling short of targeted rates, while the United States most recent second quarter GDP reading at 3.7 percent outpaced expected targets, even though it was negatively impacted by gains in manufacturing and retail inventories.
M&A activity in ocean cargo carrier sector has shippers concerned
The proposed merger of Cosco and CSCL could spark further container consolidation
Diesel prices fall for 14th straight week, reports EIA
The average price dropped 4.7 cents to $2.514 per gallon, which now stands at the lowest weekly average price for diesel since July 2009, when it was at $2.542 the week of July 27, 2009, according to EIA data.
U.S.-NAFTA freight value down 3.8 percent annually in June, reports BTS
The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in June dropped 3.8 percent annually to $99.0 billion. This followed a 10.8 percent decline in May to $92.7 billion.
Post-vacation thoughts on the rest of 2015
As the calendar turns to September and we approach 2015’s final third, there are, as usual, many things that require our attention from a freight transportation, logistics, and supply chain perspective.
Panjiva data shows lower than expected July import volumes
According to Panjiva data, July shipments-at 952,126-were up 1 percent over June, following sequential gains of 7 percent for May over April and 1 percent for June over May.