Consumer sentiment soared in January to its highest level since July 2021, with a notable 9.3-point increase bringing the University of Michigan gauge to 79. Buoyed by more positive views of inflationary pressures and economic outlooks, the latest data supports the case for continued economic expansion and could influence the Federal Reserve's next move on interest rates.
Imperial Dade has purchased Massachusetts-based Allston Supply, a janitorial solutions supplier in the New England area. The acquisition marks Imperial Dade's 79th deal under Chairman Robert Tillis and CEO Jason Tillis.
The US economy added a seasonally adjusted 353,000 jobs in January, the strongest level in a year, according to the Labor Department, which also revised upward to 333,000 from 216,000 December's job figures. The robust numbers outperformed expectations by economists that 185,000 new jobs were added to the economy last month.
How manufacturers can automate with AI Cloud resources remain a vital tool for manufacturers, but on-site edge devices are now capable of AI inferencing to help reduce latency, save on bandwidth costs, and allow businesses to retain full ownership of their data. Join experts from Red Hat, OnLogic, and Guise AI, as they discuss AI in factory automation. Register now.
The ongoing shortage of truck drivers -- due to factors including an aging workforce and difficulties in attracting younger drivers -- is disrupting supply chains and increasing costs for consumers and trucking companies, writes eb3.work CEO John Dorer. Solutions include hiring from a more diverse range of candidates, offering specialized training programs and investing in truck technology, Dorer writes.
Shipper spending in the US truck freight market decreased 13.5% year-over-year for the fourth quarter and volume declined 15.7%, which marks the most significant drop in the US Bank Freight Payment Index history. While spending has continued dropping, "we are seeing indications that might suggest trucking supply is coming into balance with demand," says Bobby Holland, U.S. Bank's director of freight business analytics.
Our ever-growing appetite for online shopping shows no signs of waning, driving a substantial and growing environmental footprint that online retailers and delivery networks are working to minimize. Giants like Amazon and DHL have made significant strides with extensive electric vehicle deployments, but delivery growth is outpacing emission reductions. Costs are a significant factor in companies' decision-making, and considerable questions remain in the industry's push-pull of profitability and climate ambitions.
When times are tough, buyers want to focus on the bare necessities and reducing costs, which could lead inexperienced sellers to succumb to deep discounts to keep the sale, but this could set a dangerous precedent that affects sales even when the economy improves, writes Paul Reilly, host of the Q and A Sales Podcast. The sales team should remember to overcome challenges with a positive mindset, focus on how customers can save on costs without offering product discounts and offer buyers exceptional value through expertise and insights, Reilly says.
The Federal Reserve expects to make three quarter-point rate cuts in 2024, Chair Jerome Powell said on CBS' "60 Minutes". Markets have been anticipating six rate cuts beginning as early as March, but Powell said the Fed needs more time to ensure inflation is down. "[T]he prudent thing to do is to, is to just give it some time and see that the data continue to confirm that inflation is moving down to 2% in a sustainable way," Powell noted.
A long-held rule that's foundational to our current international order and keeps the modern economy moving -- that ships of any nation are allowed to sail the oceans -- is buckling under current geopolitical stresses. Houthi rebel attacks on cargo ships in the Red Sea, Russia's invasion of Ukraine impacting the Black Sea, China's territorial claims in the South China Sea and a resurgence of piracy near the Horn of Africa are threatening freedom of navigation and raising questions about the future of maritime shipping security.
MDM’s 2024 AI for Distributors Summit on Wednesday, Feb. 7 connects leaders of the $9-trillion North American wholesale distribution industry to share what’s on the horizon for applied and generative AI models for distributors, as well as the latest strategy, integration and implementation guidance to innovate and create meaningful transformation in organizations today. The event is designed to help leadership teams evaluate, assess and scale their AI investments successfully. Register for the free, six-hour live session or on-demand access.
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