Aug. durable goods show "remarkably resilient" economy | Supply chains are now using more industrial space | Truck cargo theft increase dramatically in Q2, per reports
Defense spending pushed total US durable goods orders up 0.2% in August despite total nondefense orders falling 0.7%. However, core orders, which exclude defense and transportation, rose 0.9%, a sign of a "remarkably resilient" US economy, according to BMO Capital Markets economist Priscilla Thiagamoorthy. Commerce Department data showed year-over-year orders jumped 4.2% in August, with machinery orders up 0.5%, computers and electronic products up 0.3% and electrical equipment, appliances and components up 1.1%.
Companies are now using more logistics real estate per unit of revenue than they did in the past, according to Prologis, Inc., which has determined that 800,000 square feet of space is now needed to support $1 billion in retail sales. Prologis notes that "larger, decentralized logistics real estate networks unlock revenues and save on costs in ways that were previously not possible or well understood."
CargoNet estimates truckload cargo thieves in the US and Canada stole $44 million in goods during the second quarter, a 57% year-over-year increase, while Overhaul estimates a 15% increase. Both firms say thefts primarily concentrated around warehouses and distribution centers, unsecured parking lots and company truck premises and yards.
The Middletown Press (Conn.)/The Associated Press
(9/26)
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Small and medium-size enterprises often are reluctant to adopt new technology when processes work well -- even if they're not growing or don't have the flexibility and resilience needed for today's supply chains, writes Jonathan Colehower of UST, a global digital transformation solutions provider. Six ways to jump in now include becoming familiar with your industry's advances, tackling simple automation at first and leveraging university assistance, Colehower says.
Seventy passenger and freight rail projects across 35 states and the District of Columbia stand to benefit from more than $1.4 billion awarded by the Transportation Department. The funding comes from the bipartisan infrastructure law and the Consolidated Rail Infrastructure and Safety Improvements program and serves to upgrade tracks, grade crossings and bridges.
Marketers should look to the past to get back to basic marketing truths, focusing on the person, not persona, and the power of consumer advocacy, writes Frank Belzer, chief sales and marketing officer at ICON Park. Belzer warns marketers against getting tunnel vision with digital tracking, noting, "No truly creative campaign that hits the consumer's psyche will be built on metrics alone."
Social and digital platforms are expanding their ad offerings to give brands more full-funnel options and earn a larger share of ad budgets while providing consumer data that could shield them from privacy regulations. Fitzco Head of Media Claire Russell says this approach can yield more unified consumer views, connected creative and improved measurement, but cautions that brands will have "less control" as ad money is consolidated among fewer media options.
Wages and salaries are being eclipsed by the cost of living, say 67% of workers, an increase from Feb. 2022's 58%, according to the Bank of America. In addition, 64% of workers are stressed about money, climbing to 80% among those ages 35 to 44, and only 38% of women feel financially secure.