White Paper: State of the Industry – July 2023

The July 2023 “State of the Industry Report” — presented in affiliation with Ryder — shares an in-depth overview across the trucking, maritime and intermodal markets, as well as what to expect in the coming weeks. The data contained within the report provides breakdowns of capacity, volumes and rates.

In this report, you will find:

• Produce season in 2023 was lackluster, with California’s late-winter flooding chiefly responsible for a lack of growth in refrigerated freight.
• Instability in credit markets has caused conditions to tighten, hindering consumers’ purchasing ability during the summer shopping season.
• Fearing another inventory glut, retailers are planning a slowdown in orders that points to a stiff headwind for maritime’s peak season.
• Intermodal demand remains subdued as the market heads into its upcoming bid season, which is likely to reset contract rates closer to their pre-pandemic average.
• The labor market continues to show surprising strength, though the Federal Reserve has paused their series of interest rate hikes in the hope that inflation is fading.

Download the complimentary report today to access the full insights.

The post White Paper: State of the Industry – July 2023 appeared first on FreightWaves.

Source: freightwaves - White Paper: State of the Industry – July 2023
Editor: FreightWaves Staff