White Paper: State of the Industry – October 2024

The October 2024 “State of the Industry Report” — presented in affiliation with Ryder — shares an in-depth overview across the trucking, maritime and intermodal markets, as well as what to expect in the coming weeks. The data contained within the report provides breakdowns of capacity, volumes and rates as we enter into the first quarter.

In this report, you will find:

• Labor Day didn’t provide the boost to the freight market that many were hoping for, but volume levels remain elevated month over month and year over year.
• The intermodal market continues to see growth being driven by Southern California markets, thanks in large part to strong import levels.
• The end of maritime peak season is nearing, but import levels at U.S. ports will likely stay elevated into at least mid-October as TEU volumes leaving all global ports were elevated through the first half of September.
• The FOMC decided to cut the federal funds rate by 50 basis points at the September meeting and anticipates at least another 50 bps reduction before the end of the year. This will likely help stimulate the industrial sector, but it has a lagging impact that will likely drag into 2025.
• Consumers continue to spend money even though many anticipated a slowdown in August. A positive sign for consumers is inflation does continue to trend toward the Federal Reserve’s target of 2%, suggesting the worst of the inflation is in the rearview.

Download the complimentary report today to access the full insights.