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 – Price increases continue to be passed on to customers based on costs of raw materials, logistics and labor to produce products.
- Ocean Freight Rates – Ocean carriers have been trying to keep their profitability high by implementing a considerable number of blank sailings.
- Trucking Costs – Diesel tops gas prices by the widest margin on record which is bad news for end user consumers.
- Port Congestions – There are no signs of an imminent slowdown in demand judging by the number of ships/containers coming through the twin ports of L.A./Long Beach.
- Labor Costs/Shortages – The U.S. set a record for job openings in March, and the number of those who quit their jobs also reached an all-time high.
- Energy Prices – As the Federal Reserve is trying to deal with rising inflation, soaring energy prices continue to create problems.
- U.S./China Relations (tariffs) – President Biden is considering dropping tariffs imposed on Chinese goods to help fight inflation.
- COVID-19 – The economic fallout from China’s Covid-19 lockdowns is widening both at home and abroad.
- Inflation – “Transitory” is out, “expeditious” is in.
- War in Ukraine – As the war drags on in Ukraine, western nations are looking to add to their sanctions roster, which had started to dry up in recent weeks.
For a deeper look into all these topics and more open the full report in the link below.
This months report is 3255 words, 12 minute read.