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  May 24th, 2024 | Written by

Shippers Forecast Stabilizing Market for Q3 2024

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The Q3 2024 index data reveals an optimistic outlook in business sentiment moderated by limited revenue growth expectations. Shippers support confidence that the market is cautiously stabilizing with a conservative outlook at best. This blend of optimism and constrained revenue growth expectations suggests a sustained equilibrium in the market ahead.

Read also: Shippers Frustrated as Spot rates Rise With Demand

Confidence concerns about inventory management are increasing, as reflected by the growth in negative sentiment and steady median impact on expectations. Shippers are taking a cautious approach to inventory decisions and managing to current levels through Q3 2024.“Negative sentiment around inventory levels is the highest it has been since Q1 2023,” said Mark Derks, Chief Marketing Officer for BlueGrace Logistics. “This downward confidence for inventories supports the current, more mature and balanced market of today will extend through Q3,” Derks said.

Order level data shows a more decisive yet still cautious stance on order volume growth. The increase in positive sentiment and decrease in neutrality suggest a sharper focus on future business outlooks. The slight rise in negative sentiment highlights persistent uncertainties of the economy and marketplace seen in some industry sectors.

Consensus among business metrics and survey recipients are mixed with the highest discrepancy around inventory growth or shrinkage. Businesses should maintain an agile and adaptable approach to inventories and order management practices to adjust to any positive trends or unexpected challenges.