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 eased slightly for a third straight month in June.
- Ocean Freight Rates: The average China/U.S. west coast shipment now costs about 45% of what it did at the start of 2022.
- Trucking Costs: California’s Assembly Bill 5 has thrown around 70,000 truck owner-operators in limbo.
- Port Congestions: Dockworkers on the west coast continue to work despite their contract expiring. However, container dwell times are increasing again.
- Labor Costs/Shortages: Small businesses continue to raise wages to keep employees and fill historically high levels of open positions.
- Energy Prices: Natural gas prices are straining economies and industries around the world as global powers battle an energy crunch.
- U.S./China Relations (tariffs): The U.S. continues to weigh easing China sanctions to help address red-hot inflation.
- Inflation: Inflation is high, sticky, and is not slowing down.
For a deeper look into all these topics and more open the full report in the link below.
This months report is 2692 words, 15 minute read.