Inside: FedEx's market triumph, the controversy at Yellow Corp, Waabi and Uber Freight's decade deal, and the hammer comes down on PPP loan-scamming trucker.
As 2023 seasonal hiring gets underway, some retailers are cutting back on workers while others are hiring more.
Analysis of TuSimple's challenges in the autonomous trucking industry and FedEx's impressive financial performance surpassing expectations.
S&P Global's manufacturing activity index reflects slow global growth in July 2023, with significant contraction in Europe and relative stability in the Americas.
Global manufacturing activity remained stagnant in July 2023, suggesting that the world economy is still grappling with slow growth and the impact of weakness in China. S&P Global's worldwide manufacturing activity index remained at 48.7, the lowest level since June 2020, while factory output and new orders also slipped to six-month lows.
In Europe, manufacturing activity contracted significantly, particularly in Germany, France, and Italy. The euro zone's manufacturing PMI fell to 42.7 in July, the lowest reading since May 2020.
In contrast, the Americas exhibited relative stability, with factory activity in the U.S., Canada, Brazil, and Mexico showing signs of resilience. In Mexico, manufacturing activity even expanded to a seven-year high.
Source: Reuters
6/10 July has seen global factory activity remain sluggish, as per Tuesday's private surveys. The slowing growth and weakness in China is impacting the world economy, although the picture in the Americas seems less gloomy.
— Arman Abdul Rahman (@armanarahman) August 3, 2023
China's Tech Leverage in the Global Supply Chain China has set export restrictions on two minerals, gallium and germanium, vital
The South is transforming into the US's new industrial heartland, with investments pouring into sectors such as EV battery production.
In an earlier newsletter, FreightCaviar wrote about a WSJ report on the unraveling of the US and China trade relationship.
NextDecade Corp pushes forward with its massive LNG export terminal project at the Port of Brownsville, aiming to transform South Texas's trade dynamics.
Subscribe to our free tri-weekly newsletter for the latest in freight news and entertainment.
