Imports of nondurable goods are outperforming durable goods imports this month, which may indicate warehouses are full of their durable counterparts due to lack of demand.
Output from the nation’s industrial sector climbed for the third consecutive month, as broad gains across industries helped compensate for a lull in auto production. This serves as yet another sign that freight demand will remain solid in the 2nd quarter.
Manufacturing growth is likely to remain solid in the 2nd quarter, as orders for new production remained healthy through March. This should help keep freight demand strong, even if things have moderated from the torrid pace seen in previous months.
Total factory orders declined in January, in a sign that surging demand for freight carriers may ease slightly in upcoming months.
