China suffered a loss of 40% in exports during February 2020 but has since recovered that loss as of August 2020 and is now 10% ahead when compared to their position in 2019.
Global trade is decreased, with the lowest point experienced in May 2020. This places it 10% behind its original position in 2019.
Most of the current global trade recovery is due to China.
In August 2020, US trade was 10% behind the position it had in August 2019.
Industrial components, agricultural products, and machinery are the leading US export.
Retail grew 7.8% in September compared to previous months.
Furniture stores grew 7.5% in 2020, compared to only 1.7% in August 2019.
Electric sales dropped 6.1%, accelerating the previous downward trend of -4.7% observed in August.
Household appliances imports grew 45.5% in September 2020.
Electrolux 79.9%
Miele 143.7%
Consumer electronics only grew 9.5% since the previous month.
Activewear has grown 290%, lead by H&M and Delta Apparel.
Domestic Freight Updates
The expectation for truckload (TL) contractual rates to increase by double digits in 2021 is growing. High demand and tight capacity to push rates over 10% in 2021.
Spot rates have remained positive year-over-year since mid-June, with the gap to the prior year continuing to increase. Currently, rates sit 40% higher than they were in 2019.
Logistics executives do not expect spot truckload rates to soar much higher, but they do not think they will drop either, forcing shipper to collaborate more.