Industrial Sector Trade Report – August 2023

GCP's Industrial Sector Trade Report - August 2023

Industrial Sector Trade Report – August 2023

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August 2023


Below you will find a link for GCP’s August 2023 Trade Report, which provides on-going background and context around the many trade and cost pressures we are facing together.

Take a look at the notes below to get a sneak peek into the report:

  • Chinese products account for roughly 1 out of every 6 dollars Americans spend on imports, down from nearly 1 in 4 before the pandemic.
  • Ocean freight rates have mostly settled below pre-pandemic levels in recent months.
  • Trucking rates are not likely to get much lower, but they’re not rising either.
  • August import cargo volume to North America is expected to hit its highest level in nearly a year.
  • The National Federation of Independent Business (NFIB) said 23% of small business owners reported labor quality as their top operating problem.
  • After holding steady below $4/gallon for the past two months, the national average diesel price is heading higher.
  • July saw further advancements in the fight against inflation, yet it’s important to remain cautiously optimistic.

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

This months report is 2549 words, 8 minute read.


Click Here to View The Full Report