Plus, FedEx and UPS harness AI in logistics, South America's trade scene challenges Panama Canal's constraints, and Estes navigates a disruptive cyberattack.
While trade activity escalates in South America, influenced by diversified sourcing strategies, the Panama Canal continues to face drought-induced challenges.
Estes grapples with a cyberattack. This comes just weeks after Yellow accepted Estes' $1.3B bid for its terminals.
Despite falling short of economists' expectations, June's retail sales rose by 0.2%, signalling a slowing yet steady consumer demand amid inflation worries.
Despite expectations of a 0.5% increase, June saw a modest 0.2% rise in retail sales, attributed to amplified spending on e-commerce platforms, home furniture, and electronics. Compared to the previous year, retail sales have grown by 1.5%. Notably, online retailers experienced a 1.9% increase in spending, whereas department stores, gas stations, and food and beverage stores saw a decrease.
Although this data indicates a softening in consumer demand, it does not predict a severe downturn. Policymakers view this slowing demand as beneficial in controlling inflation without causing a recession.
Source: Axios
Todays retail sales numbers will suggest a much softer read on consumption than the reality.
— Bob Elliott (@BobEUnlimited) July 18, 2023
Nominal demand for goods (which retail sales covers) has been largely flat for over a year while demand for the 2x larger service sector has continued on: pic.twitter.com/8ywfW0icki
China's economic woes are compounding, with its consumer spending, property market, and exports hitting roadblocks. We dive into the challenges that China's economy faces and the potential global impact.
Explore the potential impacts of a federal shutdown on the freight industry alongside the significant fall in global trade.
US Postal Service data has revealed interesting patterns about people migrating from larger US cities to smaller ones during the
Examine the decline in U.S. consumer spending and confidence with insights from Fitch, BEA, BofA, and The Conference Board data, highlighting a potential upcoming recession.
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