Historic Plunge in Northeast Shipments: Q2 2023 Report

August 16, 2023

According to a U.S. Bank index, Northeast regional shipments have plummeted by 27% in Q2 YoY. This figure is even more staggering compared to the 25% drop during Q2 of 2020, at the onset of the COVID-19 pandemic. Key data points reveal:

  • Significant decline in housing starts and household consumption

  • Shipments declines: West (nearly 16%), Midwest (9%), Southeast (nearly 13%)

  • Southwest: Increase of nearly 15% in shipments in Q2 YoY

The report attributes the decline in the Northeast to weaker demand for consumer goods and a slowdown in manufacturing. The Southwest, however, defies the trend, largely thanks to robust cross-border truck traffic with Mexico.

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