Historic Plunge in Northeast Shipments: Q2 2023 Report

Q2 2023 saw a historic 27% drop in Northeast regional shipments YoY, worse than the 2020 pandemic period, as per a U.S. Bank index.

Historic Plunge in Northeast Shipments: Q2 2023 Report
Photo by Joseph Paul / Unsplash

According to a U.S. Bank index, Northeast regional shipments have plummeted by 27% in Q2 YoY. This figure is even more staggering compared to the 25% drop during Q2 of 2020, at the onset of the COVID-19 pandemic. Key data points reveal:

  • Significant decline in housing starts and household consumption
  • Shipments declines: West (nearly 16%), Midwest (9%), Southeast (nearly 13%)
  • Southwest: Increase of nearly 15% in shipments in Q2 YoY

The report attributes the decline in the Northeast to weaker demand for consumer goods and a slowdown in manufacturing. The Southwest, however, defies the trend, largely thanks to robust cross-border truck traffic with Mexico.

Source: Transport Dive

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to FreightCaviar.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.