Transportation Market News
U.S. Container Imports in April rose slightly to 2,208,849 TEUs
- This notes a 3% increase in U.S. container imports from March 2024
- The data indicates a 9.3% increase compared to the previous year.
- Chinese imports have recovered to the levels observed in April 2023.
- Ports on the East and Gulf Coasts have stayed steady despite global disruptions.
- The ports of Long Beach and Los Angeles have both experienced significant volume increases.
- Transit delays improved across major ports.
- Compared to pre-pandemic April 2019, import volume was up 15.1%.
The Logistics Manager Index remains in expansion while dipping to 52.9
- The month-over-month decrease of -5.4% reflects the slowest rate of growth in 2024.
- Inventory levels dropped significantly to 51.0, showing the most marginal level of expansion.
- Warehouse capacity increased to 54.0, indicating mild expansion after a previous month of contraction.
- Warehousing utilization fell to 55.1, and transportation utilization slightly decreased to 56.4.
- Warehousing prices declined to 63.8, reflecting a slower rate of growth.
- Inventory costs rose to 68.5, indicating high costs despite lower inventory levels.
- Transportation capacity increased to 61.4, while prices contracted to 44.1, continuing the freight recession trend.
US Manufacturing PMI® fell to 49.2, indicating contraction after one month of expansion.
- This marks a 1.1% decrease from March.
- Other notable monthly trends:
- New orders:49.1 (-2.3%)
- Production: 51.3 (-3.3%)
- Employment: 48.6 (+1.2%)
- Supplier Deliveries: 48.9 (-1.0%)
- Inventories: 48.2 (no change)
- Customers’ Inventories: 47.8 (+3.8%)
- Prices: 60.9 (+5.1%)
- Backlog of Orders: 45.4 (-0.9%)
- New Export Orders: 48.7 (-2.9%)
- Imports: 51.9 (-1.1)
The ATA For-Hire Truck Tonnage Index fell to 111.7
- This is a 1.5% year-over-year decrease.
- This is the 14th consecutive month of decline.
- The index also decreased by 1.2% from March’s reading of 113.1.
- The continued softness in the truck freight market may lead to additional capacity exiting the industry.
U.S. Retail and Food Services Sales Reached $705.2 Billion.
- This is virtually unchanged (+0.4%) from the revised March report at $705.1 billion.
- Total sales for February through April 2024 increased by 3.0% compared to the same period last year.
- Retail trade sales were unchanged from March 2024 but up 2.7% from the previous year.
- Nonstore retailers saw a 7.5% increase from last year, while food services and drinking places were up 5.5%.
Cass Freight Index Declined 1.3% MoM, and 4% YoY.
- Shipments also decreased by 4.0% year-over-year.
- Expenditures remained unchanged from March but fell by 16.8% compared to April 2023.
- These figures reflect continued soft demand in the freight market, consistent with broader economic trends.