The Logistics Point
The USA is facing a challenging economic outlook as consumers are still feeling the problems from inflation. This leads to 3PL companies focusing on how they keep good service levels and consumers happy. We spoke to Manny McElroy, Sr Vice President of Transportation for ITS Logistics, about freight market, what is reshaping it and what is to come next.
What problems are being faced in the USA freight market at the moment and what caused them?
Inflation is a massive problem with the currently climate of freight in the US, and it is damaging consumer spending. The population is not purchasing many goods and not only does this affect transportation in the US. but it hurts everyone globally.
With uncertainty surrounding federal interest rates, people get to talking about a bad economy and that pushes up the level of uncertainty even further. Once that feeling of doubt and fear begins to spread the consumer is likely to pull back even more spending.
Read the whole article here.