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.