The Spring 2023 Semiannual Economic Forecast by the Institute for Supply Management (ISM) forecasts the U.S. economy will continue to expand softly for the rest of 2023. The ISM expects the remainder of 2023 “are similar to those expressed in December 2022, despite continued inflation and geopolitical uncertainty”, according to Timothy R. Fiore, Chair of…
Truckload freight volumes declined, and national average spot rates for dry van and refrigerated (“reefer”) loads fell for the fourth consecutive month in April. The DAT Truckload Volume Index (TVI), a measure of loads moved during a given month, was lower for all three equipment types: Van TVI was 206, down 15.5% from March and…
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased in April to its highest level since May 2022, jumping 5.5 points to 66.8. Year over year, the full index is down 1.7 points. All six of the HPSI’s components increased monthly, most notably the component associated with consumers’ expectations of mortgage rates. While the component…
The substantial development of new warehouses along our interstates has been hard to miss in the last two years. Newmark has conducted a report that explores factors driving accelerated sector growth and quantifies key metrics for top U.S. cold storage markets experiencing expansion. According to Newmark, national cold storage development hit an all-time high of…