June Logistics Market Snapshot
Welcome to Manhattan’s review of The Logistics Market Snapshot, a free report compiled and prepared monthly by the Georgia Center of Innovation for Logistics. This highly sought-after report will be published and reviewed each month and describes last month’s domestic logistics environment. This is a quick, real-time look at facts, figures, rates, and volumes driving a global logistics market.
While the reality for logistics managers feels more like a rollercoaster ride, the report’s raw numbers show the magnitude and importance of the U.S. logistics sector. Overall, the U.S. freight market had mixed results across transport modes.
Here are the most interesting highlights from this month’s Snapshot:
- The U.S. GDP decreased 0.7% in the first quarter of 2015 according to the most recent estimate released by the Bureau of Economic Analysis on May 29. (Source: US BEA)
- Retail and food service sales rose in May to $444.9 billion, up 1.2% from the previous month, and up 2.7% above May 2014. Non-store retailer sales were up 1.4% from April 2015. (Source: US Census)
- The Consumer Confidence Index increased to 95.4 in May 2015, up 1.1 from a revised 94.3 in April. (Source: The Conference Board)
- In April, the U.S. imported $189.7 billion of cargo, decreasing 3.8% from March 2015. (Source: US Census)
- In April, the U.S. exported $129.0 billion of cargo, increasing 1.5% from March 2015. (Source: US Census)
- U.S. import prices increased 1.3% in May, following declines in each of the previous 10 months. The May advance was driven by an increase in fuel prices. Import prices fell 9.6% over the past year. The price index for U.S. exports increased 0.6% in May and decreased 5.9% year-over-year. (Source: Bureau of Labor Statistics)
- eCommerce revenue in April 2015 is estimated to be up 8% year-over-year. The share of mobile orders (phone and tablet) out of all e-commerce orders has increased to 27%, up from 20% in 2014. (Source: Custora e-Commerce Pulse)
- The ATA’s seasonally adjusted cargo index decreased 3% to 128.6 in April, which is the lowest level since April 2014. The for-hire truck tonnage index rose 1% from April 2014. (Source: American Trucking Association | Trucking.org)
- U.S. average diesel prices fell to $2.88 per gallon last week. The U.S. average diesel price was $1.08 lower than the same week last year. The average price of diesel in the lower Atlantic states was $2.85 per gallon. (Source: U.S. DOE) (Reflects the costs and profits of the entire production and distribution chain.)
- Total carloads in May 2015 decreased 9.4% from May 2014. Total carloads averaged 111,539 in May 2015. This is the biggest year-over-year percentage decline for total carloads for any month since October 2009. (Source: AAR.org)
- Intermodal rail traffic in May 2015 was 3.8% higher, year-over-year. The weekly average of 271,492 units in May was the third-highest weekly average for any month in history, and the first time in history that the average weekly rail intermodal units exceeded average weekly rail carloads. (Source: AAR.org)
Check back each month for our analysis of the latest information driving global logistics.