A quick glance into the Logistics Market - April 2013
Georgia Logistics complies a monthly set of facts and figures regarding the Logistics Markets. We selected a few facts to share with you :-
The U.S. GDP increased 0.4% in the fourth quarter of 2012 according to the final estimate released by the Bureau of Economic Analysis
The U.S. trade deficit decreased by 3.4% in February to $43 billion. Exports rose 0.8% to $186 billion and imports remained the same at $228.9 billion
The consumer price index for all urban consumers increased 0.7 in February from the previous month. Over the last 12 months, the all items index increased 2%. The producer price index for finished goods decreased 0.6% in March from the previous month. Prices for finished goods rose 1.1% over the previous year.
The ATA’s seasonally adjusted cargo index rose 0.6% in February after rising 1% in January. The for-hire truck tonnage index rose 4.2% year-over-year.
The U.S. Energy Department predicts diesel fuel prices, which averaged $3.95 per gallon last summer, to fall slightly to an average of $3.94 per gallon this summer. For the entire year, the EIA is forecasting diesel will average $3.90 per gallon, and in 2014 it’s expected to average $3.80 per gallon.
The trucking industry lost 6,900 jobs in March. The trucking workforce decreased 0.5% over the previous month and increased 2.6% over the previous year.
Global air freight traffic in February decreased 6.2% from one year ago. North American air freight in February fell 3.1% year-over-year.
In February, the index of average international air cargo rates rose 1.9 points from January. The average price of air cargo leaving the United States in February stood at $3.32 per kilogram.
As of April 5, 2013, the global average jet fuel price was $121.30 per barrel; down 5.4% from the previous month, and 11.4% lower year-over-year.
Import shipment volume, in TEUs, at U.S. ports decreased 15% in March from the previous month and fell 12.5% year-over-year. Imports in March were the lowest since 2009 due to the Chinese New Year falling later this year compared to last year.
The cost of Somali piracy to the global economy in 2012 fell 13% year-over-year to about $6 billion. Hijackings dropped 50% and attempted attacks decreased more than 70%. Private security proved to be the biggest source of costs, accounting for 29%. About half of ships in the region used armed guards in 2012, up from 30% in 2011.
The Baltic Dry Index rose 20.2% in March, ending at 910. The BDI has decreased 3.8% during the first half of April.
WAREHOUSING & DISTRIBUTION:
The U.S. average industrial vacancy rate was 8.7% during Q4 2012, down from 9% in the previous quarter. Overall vacancy was 9.6% in the Atlanta and 11.7% in Savannah during the fourth quarter.
The National PMI fell 2.9 points to 51.3 in March 2013. New orders fell 6.4 points to 51.4 and production decreased 5.4 points to 52.2
Net absorption in the US during Q4 2012 totaled more than +53.7 million square feet. Absorption during the 4Q totaled +1.3 million square feet in Atlanta and +390,000 square feet in Savannah.
Railroad bulk carload freight in March 2013 fell 1.4% from February 2013. Freight traffic in March fell 0.5% from March 2012. Carloads excluding coal and grain increased 3.4% over the previous year.
The index of average railroad fuel prices in January was 646.8, up 5.8% from the previous month and 2.1% higher year-over-year.
Intermodal rail traffic in March 2013 was 0.5% higher than in March 2012 and 4.9% lower than February2013 totals. Intermodal loadings have experienced year-over-year gains for 40 straight months.
Dow Jones Transportation index rose 0.6% during the month of March.
In February, the U.S. imported about $228.9 billion of cargo. February U.S. imports remained the same in terms of value from January, and rose 1.9% year-over-year.
Contracts for new nonresidential construction in metro Atlanta jumped 58% to $267 million in February. Residential contracts for future construction in metro Atlanta rose 48% to $307.5 million during the same month. Total building contracts in metro Atlanta were up 53% in February.
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