The robust rate of growth recorded for Q314 reinforces our longstanding view that the US will continue to regain its economic footing in the coming years. The US Bureau of Economic Analysis (BEA) released its second estimate of Q314, and reported that real GDP expanded by 3.9% on an annualised, seasonally adjusted basis, up from a preliminary estimate of 3.5%. Our overall view that the US economy will continue to accelerate remains firmly in place. We are forecasting growth of 2.7% in 2015.
A steady improvement in consumer confidence reinforces our view that private consumption will accelerate in 2015, boosting freight transport volumes. The most recent high-frequency data for the US labour market support our view that the sector will continue to make positive strides. The unemployment rate, which came in at 5.9% in September, beating consensus expectations, has fallen below the 6.0% threshold for the first time since 2011. Similarly, the change in nonfarm payrolls came in at 248,000 for the month, up from just 142,000 in August, significantly beating consensus expectations of 215,000. Consumer purchases of durable goods, particularly automobiles, also picked up sharply in Q214, a signal that consumers are confident enough about their financial security that they are increasingly willing to buy big-ticket items.
We believe currency strength will discourage foreign customers from purchasing US-produced goods and services over the near term, while promoting an increase in imports. As a result, we expect that any improvement in net exports will be subdued in real terms over the coming months. Over a longer time horizon, our Oil & Gas team is optimistic about a range of new fields coming online, which will reduce US demand for foreign energy, and eventually provide an important source of export revenues in the form of liquefied natural gas.
Key Industry Data
The United States Freight Transport Report has been researched at source, and features latest-available data covering commercial transport and logistics by road, rail, air and water; industry forecasts, company rankings covering leading national and multinational operators; and analysis of latest industry trends, opportunities, projects and regulatory changes.
BMI Research's United States Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the American freight transport and logistics industry.
- Benchmark BMI's independent freight transport industry forecasts on United States to test other views - a key input for successful budgetary and planning in the strategic freight transport market.
- Target business opportunities and risks in the American freight transport sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in United States.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs, and latest activity).
BMI Industry View
Summary of BMI’s key industry forecasts, views and trend analysis covering freight transport and logistics, regulatory changes, major investments and projects and significant national and multinational company developments.
Industry SWOT Analysis
Analysis of the major strengths, weaknesses, opportunities and threats within the freight transport sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2008-2012) and forecasts to end-2019 for all key industry and economic indicators (see list below), supported by explicit assumptions plus analysis of key downside risks to the main forecast including:
- Transport Sector: Total freight carried by road, rail, inland waterways, maritime, air and pipeline (mn tonnes-km/mn tonnes).
- Trade: Exports and imports (USDmn) by category of goods (manufactured goods, food, chemicals etc.); top five import and export trade partners (USDmn); imports/exports to each global region (USDmn)
- Port Data: Throughput (‘000 tonnes) for all major ports in the state.
- Oil Products Prices: Price forecasts for gasoline and aviation fuel (USD/bbl) at all major global energy trading hubs.
- Economic Indicators: Nominal GDP (USDbn); real GDP growth (%); GDP per capita (USD); industrial production (%); unemployment (%)
Details of the freight infrastructure in each state by segment (road, rail, air, water and pipelines). Full analysis of the competitive landscape within each segment.
Industry Trends and Developments
Analysis of the latest projects across the freight transport sector (road, rail, air, sea and logistics) including a market overview which provides an outline of the key elements driving development.
The Freight Transport market reports contain a chapter detailing the political outlook of a given region, examining the domestic politics, long-term outlook and foreign policy, and assessing the impact this could have on freight and transport businesses.
Examines the short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses.
The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
The Freight Transport reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.