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OPTIMISM SURROUNDS TALK OF INFRASTRUCTION ACTION
Momentum and support are building for an infrastructure bill to finally pass. President Trump addressed the need in his State of the Union speech and lobbyists and lawmakers are eager to support this initiative. According to Logistics Management, The U.S. freight system moves 55 million tons of goods daily, worth more than $49 billion and is expected to grow nearly 42 percent by 2040. We can’t delay investing in our infrastructure any more and hopefully this momentum leads to real action.
MANUFACTURING IN AMERICA IS GROWING
Manufacturers created a record-breaking 284,000 jobs in 2018, the biggest job growth in the industry since 1997! This growth trend in U.S. manufacturing is encouraging and will hopefully continue in 2019 as well.
IMPORTS AND EXPORTS ARE SLOWING
Imports of all goods and services dropped 2.9%, while exports declined 0.6% in November of 2018, according to Transport Topics. This was more than was forecast and was a five-month low. Tariffs are weighing on businesses and affecting pricing as well.
TOP RISKS IN 2019 COULD AFFECT SUPPLY CHAIN
The Global Risk Report published by the World Economic Forum identifies trends shaping the global economy. Their recent publication indicated the top 5 risks are extreme weather events, failure of climate-change mitigation and adaptation, natural disasters, data fraud or theft, and cyber-attacks. Supply chains could use this report’s information when assessing and planning for risks that could affect them.
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