Industrial Sector Trade Report – June 2023

Natural gas processing plant

Industrial Sector Trade Report – June 2023

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June 2023


Below you will find a link for GCP’s June 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:

  • ISM® Prices Index: 44.2%, down 9 points from April (53.2%), indicating lower raw materials prices in May.
  • U.S. imports return to pre-pandemic patterns despite high retail spending. May retail sales (adjusted for inflation) excluding vehicles, automotive parts, and gasoline-station sales up 37% compared to May 2019.
  • Trucking industry’s produce season halfway mark. Southern border faces tight markets, while spot market volumes for van and reefer freight hit seven-year low.
  • Crude prices decline due to hawkish central bank messages, potential interest rate hikes, limited U.S. oil output, and OPEC+ production cuts.
  • Labor disruptions at major U.S. West Coast ports end as ILWU and PMA reach six-year contract agreement. Ports operating at 70% capacity, container clearance expected once full labor force resumes.
  • Latest CPI report shows progress in inflation battle, prompting unchanged short-term interest rates by the Federal Reserve.
  • 24% of owners report labor quality as top operating problem, while 10% cite labor costs as most significant issue.
  • Antony Blinken, America’s top diplomat, visits Beijing in mid-June to improve relations between the two superpowers.

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

This months report is 2795 words, 9 minute read.


Click Here to View The Full Report