Industrial Sector Cost Report – December 2022

Container ship in export and import business and logistics. Ship

Industrial Sector Cost Report – December 2022

Download The Full Report

 

December 2022


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. 

 

  • Raw Material Pricing: With uncertain economic conditions ahead, raw material prices continue to soften. 
  • Ocean Freight Rates: Prices continue to fall, but sailing volatility remains. 
  • Port Congestions: 55 container ships are waiting off North American ports, but the twin ports of LA and Long Beach declare things are finally back to normal. 
  • Trucking Costs: Signs pointing to lower spot rates as we close out 2022 and head into 2023.
  • Labor Costs/Shortages: Job openings in manufacturing remain at historic levels, which suggests companies are still struggling to secure workers. 
  • Energy Prices: Crude oil prices are often a tell for the global economy, which could indicate trouble ahead after recent price declines.
  • U.S./China Relations (tariffs): The U.S. is on track to import more goods from China in 2022 than in any year prior. 
  • Inflation: A long way to go. 

 

For a deeper look into all these topics and more open the full report in the link below.

This months report is 3085 words, 10.5 minute read.

 

Click Here to View The Full Report