The June Logistics Market Snapshot has been released by the Georgia Center of Innovation and Logistics, providing those of us in the LTL transportation industry with a quick, real-time look at the facts, figures, rates, and volumes driving our market. This report is compiled from data provided by a widespread variety of transportation modes, warehousing and distribution centers, and the economy at large.
Things seem to be doing well. Declines in the U.S. manufacturing sector have stopped and output is projected to increase soon--which will have a positive impact on the economy, logistics industries, and on demand for industrial real estate space in the coming decade.
Additionally, the market for truckload freight rose 3.1% in May, while truck capacity was up 24% year-over-year. The U.S. 3PL market gross revenues increased by 6% in 2012 to $141.8 billion, and are expected to increase 4.7% in 2013 to $148.4 billion--welcome news for CSA and our friends and partners in the 3PL industry.
All these signs point to an improved economy. In fact, the Consumer Confidence Index increased to 76.2 in May 2013 from 68.1 in April 2013. This was observed in both retail and food service sales, which have risen nearly 5% since last year. Similarly, import shipment volume at U.S. ports has increased 3% in May from the previous month, while the number of bills of lading, or total shipments, filed with U.S. Customs totaled 786 thousand in May, up 2.5% from April.
Though it's not dramatic improvement, we're really happy to see these increases especially in the U.S. domestic 3PL industry, where we continue to build strong relationships with partners to help improve our domestic U.S. shipping service.