The current economic landscape reveals positive data, particularly with October’s inflation rate at 2.1%, down from a peak of 9.1% in June 2022, and a third-quarter GDP growth of 2.8%. However, consumer sentiment remains subdued despite an increase in the Consumer Confidence Index. Issues in the freight market persist, with analysts noting an oversupply of capacity and stagnant demand. While signs of improvement exist, such as potential revenue growth for companies like UPS, overall optimism is cautious as the market seeks a demand inflection for recovery.

Source: https://www.logisticsmgmt.com/article/economic_data_paints_a_positive_picture_but_sentiment_tells_a_different_story/lm_june_2024