There’s no doubt that supply chain and logistics professionals are living in interesting times. From tariffs and trade wars to the normal movements of the economic cycle, demand for shipping can be affected by any number of factors.
Here are five key stats that we’ll be keeping an eye on for the rest of this quarter to see how volumes and demand are shaping up as we close out the year, and as an indicator of where freight is headed going into 2020.
Each of the stats appears--along with other helpful information--in the current edition of the CAF Quarterly Forecast. So if you like what you see below, be sure to check out the full report for a more in-depth look at the factors affecting the global freight market.
$160 Billion
The value of “List 4B” goods that may be affected by a 15% tariff if the United States and China cannot agree on a trade deal prior to December 15. Tariffs on these goods had initially been delayed to ensure the holiday shopping season is not disrupted.
-4.6%
The year-over-year change in intermodal shipping volumes in Q3 2019 versus the same period in 2018. While partly attributable to tariff-related frontloading earlier in the year, Q3 volumes have been leveling out in recent years, indicating that improvements in supply chain efficiency, along with shifts in consumer behavior, are smoothing some of the traditional peaks out of the demand cycle for shipping services.
-9.5%
The drop in the percentage of unionized workers in the U.S. workforce between 1985 and 2018. Despite this trend--or perhaps because of it--unions have been high on the agenda during recent Democratic primary debates, with several candidates pledging to strengthen labor unions in the event that they win both the primary and the 2020 election.
$800
The annual cost to the average U.S. household due to ongoing trade wars, according to the Federal Reserve Bank of New York.
3%
The International Monetary Fund’s revised October estimate of global growth in 2019, the slowest rate since the 2008-2009 economic crisis. Beset by a number of factors, including trade wars and rising tension in the Middle East, the IMF’s 2019 growth prediction declined from 3.2% as recently as July.
Want to know more about these stats and the factors driving global trade? Check out the most recent edition of the CAF Quarterly Forecast.
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