What’s happening this month in the industrial sector? Read on, as the GCP team examines recent price movements, economic trends and news, from around North America.
Included below are a few points highlighted from the report,
- Raw Material Pricing: Prices increased for the 26th consecutive month, but at a fraction of the pace compared to previous months.
- Ocean Freight Rates: Container prices have fallen over 50% since the start of the year but still remain higher than pre-pandemic levels.
- Trucking Costs: Excluding fuel, spot rates have decreased 30%, but remain above pre-pandemic levels.
- Port Congestions: Another month of high volume as ports remain overwhelmed in the U.S. but the situation is improving.
- Labor Costs/Shortages: Job openings and a lack of skilled labor continues to hamper small business.
- Energy Prices: Oil and natural gas prices are moving in opposite directions as supply and demand factors create uncertainty in both markets.
- U.S./China Relations (tariffs): Nancy Pelosi’s visit to Taiwan places further strain on the U.S. China relationship as President Biden mulls China tariff decision.
- Inflation: Is the inflation scare over? Not by a long shot.
For a deeper look into all these topics and more open the full report in the link below.
This months report is 2904 words, 18 minute read.