On September 25, the National Hurricane Center issued an advisory stating that Hurricane Lorenzo “continues to strengthen” and is “expected to become a major hurricane by Thursday.” Tropical Storm Karen continues to travel across the Caribbean, with the most recent National Hurricane Center advisory stating that the center of Karen is “moving northward over the Southwestern Atlantic” and “heavy rains continue over Puerto Rico, the Virgin Islands, and portions of the Northern Leeward Islands.” Tropical Storm Jerry was downgraded to Post-Tropical Cyclone today, with a National Hurricane Center advisory stating that Jerry is “approaching Bermuda, but expected to weaken further.” To read more, click here.

U.S. Truck Tonnage Rises 4.1 Percent in August

According to the ATA’s (American Trucking Associations) For-Hire Truck Tonnage Index, seasonally adjusted truck tonnage rose 4.1 percent in August year-over-year. Additionally, seasonally adjusted tonnage showed an increase of 4.3 percent year-to-date when compared with January to August of 2018. Bob Costello, ATA Chief Economist, stated that “truck tonnage shows that it is unlikely that the economy is slipping into a recession.” The ATA’s NSA (not seasonally-adjusted) index, which the ATA advises fleets to benchmark levels with, was 2.2 percent ahead of July 2019. To read more, click here.

Early Estimates Say Holiday Retail Sales Growth Could Exceed Five Percent

With the busiest shopping season of the year quickly approaching, many firms have begun to analyze expected retail sales for November 2019 to January 2020. According to AlixPartners, holiday retail sales are expected to rise 4.4 percent to 5.3 percent year-over-year. In a similar report, Deloitte stated that holiday sales are anticipated to reach 4.5 percent to 5 percent growth between November and January, with 14 percent to 18 percent growth in holiday eCommerce. A more conservative estimation comes from Coresight Research, predicting that holiday retail sales will surge 3.5 percent to 4 percent year-over-year.   To read more, click here.

Statistic of the Week

0.9 Percent

The percent increase in the Freight Transportation Services Index (TSI) from June to July 2019, according to data from the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS). To view more statistics, click here.

Links of the Week

Walmart Launches Unlimited Grocery Delivery at Over 1,400 Stores Nationwide

Georgia Ports Authority Announces Plan to Double Port of Savannah’s Annual Capacity

U.S. Rail Traffic Down in August; Seventh Straight Month of Year-Over-Year Decline

Upcoming Events

Catch up with the Ascent Global Logistics team at the below upcoming events:  

HIGH POINT FURNITURE MARKET
High Point, NC – October 19-23, 2019

International Holiday Calendar