End of 2022 Manufacturing and Shipping Updates
Here’s what we expect with end of 2022 manufacturing and shipping updates…With End-of-Year just on the other side of the Holiday Season many of us in manufacturing and shipping are experiencing “crunch time”. Pushing to make numbers, dealing with holiday shut-downs, high emotionality….it all comes together every year just like this!
And this year we have lots of macro-economic drama to decipher as we peer into the new year too!
- Congress took action to avert a rail strike. It was always my opinion that the unions would push the situation until it took Congressional action. They have all the leverage and have for some time. Question is….will Congressional action be enough?
- November’s manufacturing PMI came in at 49 which indicates contraction. This is the first contraction reading in 29 consecutive months.
- Jobs growth accelerated. Since manufacturing contracted, the jobs growth was primarily in service industries and government.
- Inflation is holding at 7.7% year over year. When you factor out food and energy; core inflation is running 6.3% leading to potentially large cost-of-living wage increases starting 2023.
- The Stock Market is waffling and unsure what the near-term future will hold. Will the Fed lead us to a “soft landing” or is recession on-deck for 2023?
As always, we’re looking down the road to provide guidance and strategy to help ensure you have the right freight in the right place at the right time and at the right cost. So if you are looking at new initiatives, or major strategic course corrections please share so we can take a proactive approach with you.
From the entire team at Customodal; may you and your family enjoy peace and joy this Holiday Season!