Industrial Sector Cost Report – December 2022

Container ship in export and import business and logistics. Ship

Industrial Sector Cost Report – December 2022

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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.


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