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Freight Volumes Affecting Logistics Economy
Freight volumes are continuing to impact the economics of logistics, with two closely-watched indices showing contraction in the market as demand for goods remain challenged ahead of Q4 restocking. Average daily spot rates from China/East Asia to the West Coast were $1,324 per 40-foot container on June 7, down from $14,000 a year ago, while the Logistics Managers Index is in contraction territory.