A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
For a long time, secure parking lived in the “nice-to-have” bucket. That framing no longer works. In today’s environment, secure parking functions as a preventative security layer.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
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
In a recent episode of the Stay In Your Lane Podcast from Triple T Transport, Allianz Trade North America Chief Economist Dan North shed light on why the anticipated economic recession hasn't yet materialized and its implications on the freight market.
The ISM Manufacturing Index moves from contraction to expansion for the first time in 16 months.
CEOs at Davos signal ongoing supply chain disruptions may persist, affecting global freight and consumer prices.
Sharp increase in freight rates early 2024 may signal an impending surge in goods inflation, according to data from Steno Research.
Join over 14K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
