This week the Federal Reserve reduced their forecast for economic growth and and inflation because the economy is starting to cool - here and abroad.
Manufacturing output dropped to the lowest levels in a year, with the lowest growth in consumer goods. Demand for business equipment which was strong earlier in the year has begun to taper off as well. Good new is jobless claims are down. China missed its forecasted economic growth rate for the second quarter because of lower production. Loadings figures have been soaring for most modes of late and rates have been rising. Based on the figures this week for orders and production I am expecting to see a drop in freight carried in the coming months. Part of the bumpy ride out of the recession.
What are you forecasting for the remainder of the year for your business?
SC
MR
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About the Author
Rosalyn Wilson, SCMR Blogger
Rosalyn Wilson is the author of the highly regarded “State of Logistics Report,” which is produced annually by the Council of Supply Chain Management Professionals (CSCMP) and sponsored by Penske Logistics. Rosalyn has over thirty years experience researching and writing about the supply chain industry. She is a Senior Business Analyst at Delcan Corporation, a multi-disciplinary engineering, management, and technology consulting firm. She can be reached directly at [email protected].
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