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.
