While dry van capacity is improving, the bulk trucking sector has worsened, with rising manufacturing activity and low inventories expanding regional tightness into a national capacity shortfall. Clients are advised to provide expanded lead times on orders to help ensure delivery dates will be met.
Freight pricing continues to rise due to capacity constraints and the higher cost of operations due to the pandemic.
The U.S. recorded 37,986 new COVID-19 infections yesterday and 1,234 deaths.
Global trade rebounded 7.6% in June from May but remained 12.5% below June 2019.
The Organization for Economic Cooperation and Development (OECD) reported that the economies of OECD countries contracted by 9.8% in the second quarter, four times the low point of the Great Recession.
Public debt among developed countries rose to 128% of global GDP, higher than in 1946 following WWII.
Germany is extending stimulus measures to bolster its economy, including extending unemployment subsidies for 12 additional months through 2021.
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