New Transportation Department figures show June marked the 18th consecutive month the total value of U.S. freight movements with North American Free Trade Agreement (NAFTA) partners Canada and Mexico declined from the same time a year earlier.
California pushes forward Sustainable Freight Action Plan
Evolving from an Executive Order issued last year by Governor Edmund G. Brown Jr., and a draft version issued in May 2016, California has now released its Sustainable Freight Action Plan, a blueprint for moving the state’s multi-billion-dollar freight transport system into a more environmentally cleaner direction.
Container carrier losses could reach $10b in 2016
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
Oil down 1 percent, pressured by glut, dollar, Nigeria outlook
Oil prices fell nearly 2 percent on Monday, snapping two consecutive days of gains, on caution over galloping Middle East crude output and a stronger dollar boosted by speculation of a U.S. rate hike by the year-end.
Solid U.S. consumer spending boosts prospect of Fed rate hikes
U.S. consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year.
US housing starts total 1.21M in July vs. 1.18M starts expected
U.S. housing starts unexpectedly rose in July as building activity increased across the board, supporting the view that investment in residential construction will rebound after slumping in the second quarter.
Lower-Paying Industries Are Seeing the Fastest Wage-Growth in the U.S.
Employees at food and beverage stores, good services and drinking places, and gasoline stations are seeing an acute rise in pay levels so far this year, according to Merrill Lynch.
Dairy alternatives projected to surpass $35B by 2024
Beverages continue to be a major segment for plant-based dairy, as almond, cashew, walnut and coconut milks continue to grow in popularity for drinking and cooking purposes. Almond milk boosted its share to 28% of new dairy product launches last year.
For-hire US truck tonnage rises at slowest pace so far this year
U.S. for-hire truck tonnage in July rose at the slowest pace of 2016 on a year-over-year basis as shippers’ high inventories dampen trucking demand, according to the American Trucking Associations. (This article requires registration at the Journal of Commerce. To access, please click on the above link.)
Upbeat U.S. factory data suggests business spending stabilizing
New orders for U.S. manufactured capital goods rose for a second straight month in July as demand for machinery and a range of other products picked up, offering a tentative sign that a business spending downturn was starting to ease.