Logistics Market Snapshot – October Edition

GEORGIA125Do you have that too, that you are working on so many thing at the same time, that one of the things slips your mind? If not, then it’s just me. ūüôā I had it last week with¬†posting the Logistics Market Snapshot, so here goes!

Each month the Georgia Center of Innovation for Logistics publishes a Logistics Market Snapshot with key Logistics and Supply Chain figures and statistics. Included are several Multimodal, Trucking, Rail, Air, and Ocean Freight Indexes, Industrial Vacancy and Rent Rates and general economic indexes. Please find a few encouraging statistics of this month’s edition below:

Georgia Logistics Market Snapshot
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The National Retail Federation forecasts $617.9 billion in holiday spending this year, a 4.1% increase over 2013. (Source: National Retail Federation)
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Online holiday sales are expected to grow between 8 Р11% over last holiday season to as much as $105 billion. (Source: National Retail Federation)
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U.S. retailers are expected to hire between 725,000 and 800,000 seasonal workers this holiday season, potentially more than they actually hired during the 2013 holiday season (768,000). (Source: National Retail Federation)
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The U.S. GDP increased 4.6% in Q2 of 2014 according to the third estimate released by the Bureau of Economic Analysis.
(Source: U.S. BEA)
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Monthly job cuts fell to their lowest level in 14 years in September, as U.S.based employers announced workforce reductions totaling 30,477 during the month. As Q4 begins, 2014 is on pace to be the lowest job-cut year since 1997. (Source: www.challengergray.com)
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Macy’s: ¬†86,000 additional workers, 4% increase over 2013 holiday season
Amazon:  80,000 additional workers, 14% increase over 2013 holiday season
Kohls:  67,000 additional workers, 16% increase over 2013 holiday season
Wal-Mart:  60,000 additional workers, 10% increase over 2013 holiday season
Target:  70,000 additional workers, Same as 2013 holiday season
GameStop:  25,000 additional workers, 47% increase over 2013 holiday season
Toys R’ Us: ¬†45,000 additional workers, Same as 2013 holiday season
J.C. Penney:  35,000 additional workers, same as 2013 holiday season
Amazon:  80,000 additional workers, 14% increase over 2013 holiday season
UPS:  95,000 additional workers, 11% increase over 2013 holiday season
FedEx:  50,000 additional workers, 25% increase over 2013 holiday season

(Source: www.challengergray.com, Seattle Times, NRF)
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A Project Partnership Agreement has been signed, allowing construction on the Savannah Harbor Expansion Project (SHEP) to finally begin after 17 years of studies. The project will cost approximately $706 million, and Georgia has already set aside the required 40% of the total ($266 million) in order to begin the project while it awaits congressional appropriations for the remaining 60% in federal funding.
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Through the first half of 2014, Atlanta has experienced the highest absorption rate in the nation, absorbing nearly +8.4 million square feet of industrial real estate space.
(Source: Colliers International)

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