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.