January 16, 2024 • Market Updates

  • Retail consumption will decrease from the usual holiday surges.
    • With interest rates not scheduled to decrease yet, retail spending is projected to decrease even more as people recover from high interest rates during the holiday season.
  • Construction budgeting for FY2024 is in full swing as projects will begin in early spring.
    • Government-funded construction projects and single-family housing demands will cause a slight increase in Q1 for shipping demands to contractors and jobsites.
  • Cost-saving measures such as LTL and Intermodal movements will need to be utilized as interest rates stay high.
    • With that, though, rates for these modes are not expected to increase exponentially.
  • As fuel costs decrease, spot rates will see a slight dip.