3Q23's uneven growth continued in October, and USCTI's President expects that narrative to continue through 2024's first half.
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The U.S. Central Bank indicated its most recent rate hike in July was likely the end of an aggressive cycle of increases to quell inflation.
It followed a much bigger 1.2% decrease in October.
Core PPI edged up for a sixth straight month, while overall wholesale inflation continued its deceleration.
Meanwhile, about one-third reported decreased gross margins because of supplier price increases and other cost pressures.
The AMT said the U.S. west region saw monthly orders surge 60% from September.
Core inflation edged up 0.3% month-to-month and ended November up 4% from a year earlier.
The data gave more fuel to a “soft landing” consensus for economic conditions next year.
The September figure was also revised downward.
It followed two straight months of increases.
Spending was up 10.7% year-over-year, with nonresidential constuction up 20% from a year earlier.
The figures indicate that demand remains soft and production execution was slightly down compared to October.
GDP growth was revised up from the 4.9% issued on Oct. 26.
Nearly 30 actions were outlined at the first meeting of the Biden administration’s new Supply Chain Resilience Council.
While the company didn't celebrate it with fanfare, it’s still a significant milestone for Amazon's vast logistics network.
It was a major reversal from September’s 4.0% gain, and the second considerable drop in four months.
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Factory output matched its largest one-month decline since June.
Consumption slide month-to-month, while year-to-date orders outpaced 2022’s first nine months by 8.1%.
Wholesale prices for final demand goods fell 1.4% in October, largely driven by a major drop in the price of gasoline.
