A 20-year veteran of the freight industry, with 60k TikTok followers, argued that small carriers can't survive without brokers. Plus: the FBI's PSA, Steam Logistics sues two of its own, Ohio Turnpike comes for 315 carriers, and more.
Plus, Utah hands down an $81M nuclear verdict, hundreds of Mexican driver visas revoked at the border, Q1 earnings roundup, and more in today's newsletter.
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U.S. manufacturing boom spurred by recent laws promises up to 250,000 new jobs over two years
Promising growth in the U.S. manufacturing sector is on the horizon, with thanks going to the Biden administration's signature bills: the Inflation Reduction Act and the CHIPS and Science Act. Goldman Sachs projects:
Significantly, Arizona stands out, with around one-third of the total private investment planned here, a nod to significant commitments from giants like TSMC and Intel.
Source: Axios
In the midst of rising inflation and economic uncertainties, #industrial markets across the country posted sluggish figures compared to one year ago. The #manufacturing sector and #nearshoring efforts will drive demand in the coming quarters.
— JLL USA (@jll_usa) August 2, 2023
More here: https://t.co/7DOijABsbR pic.twitter.com/dQFQOMCJyd
Plus, C.H. Robinson's 2026 rate forecast update, Hormuz tankers still stuck, a $1M LEGO heist, and more.
August PMI shows manufacturing still contracting. Production plummets to lowest level since May 2020 as demand weakens and inventories rise. But there may be relief moving into the holiday season.
The U.S. manufacturing sector faces contraction with a PMI of 48.7 in May 2024, while manufacturing construction hits a record high. What's up with these mixed signals?
TSMC's $11.6 billion award to fund three new chipmaking factories in Arizona.
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