Reported 8 months ago
In the US, business spending on logistics services decreased by 11% in 2023 to $2.4 trillion, following disruptions caused by COVID. However, logistics costs remain high, with a ratio of logistics costs to GDP at 8.7%, compared to 9.1% in 2022. The Council of Supply Chain Management Professionals report highlighted the need for robust transportation networks and investments in technology to minimize disruptions. While freight demand was tepid last year, an upturn in rates is projected in the air and ocean sectors for 2024.
Source: YAHOO