美国10月物流业增长保持稳定 运输活动强劲支撑整体扩张

Core Viewpoint - The U.S. logistics industry continued to show stable expansion in October, with the Logistics Manager Index (LMI) remaining at 57.4, indicating ongoing growth in logistics activities [1]. Summary by Sections Logistics Activity - The LMI recorded 57.4 in October, unchanged from September, and has remained above the 50 threshold, signaling continuous expansion in logistics activities [1]. - Transportation activities significantly improved, offsetting the downward pressure from declining inventory and warehousing metrics [1]. Inventory and Warehousing - Inventory levels decreased by 5.6 points to 49.5, while warehousing utilization fell by 8.8 points to 56.5, both dropping below the expansion threshold, indicating accelerated inventory liquidation and weakened warehousing demand [1]. Transportation Sector - The transportation price index rose by 7.5 points to 61.7, and transportation utilization increased by 7.3 points to 57.3, reflecting a notable acceleration in the flow of goods [1]. - The available capacity for transportation slightly decreased by 0.7 points to 54.5, still within the expansion range but indicating a slowdown in growth [1]. - The rise in transportation prices and the deceleration in capacity expansion ended a two-month trend of "negative freight rate inversion," where rates were below costs [1]. Market Dynamics - The decline in inventory levels may be linked to the onset of the holiday sales season, as retailers expedite shipments to meet year-end consumer demand, facilitating the flow of goods from warehouses to the market and alleviating previous warehousing pressures [1][2].