Industrial Sector Cost Report – October 2022

labor shortage

Industrial Sector Cost Report – October 2022

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October 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. 


Included below are a few points highlighted from the report,

  • Raw Material Pricing: The rubber industry continues to seesaw between materials in short supply, prices increases and price decreases.
  • Ocean Freight Rates: Falling import volumes and increased ship capacity are leading to lower rates.
  • Trucking Costs: With slowing demand and increased capacity it seems cost relief is on its way for 2023.
  • Port Congestions: The number of ships waiting off North American ports peaked at over 150 in July 2022, currently there are less than 100.
  • Labor Costs/Shortages: Work shortage remains a top issue for small business. 
  • Energy Prices: Expected higher fuel costs and higher energy consumption are pointing towards increased energy costs on both sides of the Atlantic this winter.
  • U.S./China Relations (tariffs): United States Trade Representative (USTR) announces the next steps in their review of $300 billion worth of tariffs on China imports.
  • Inflation: Sticky and elevated. Another month, another hot inflation reading

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

This months report is 2898 words, 9 minute read.


Click Here to View The Full Report