---
title: Monthly Musings - February 2024 - MyFreightWorld
description: Trucking Industry News Container Freight Source | Descartes U.S. container import volumes rose 7.9% MoM in January 2024, marking the...
---

[Blog Posts | MyFreightWorld](https://blog.myfreightworld.com/blog-posts-myfreightworld)

# [Monthly Musings - February 2024 - MyFreightWorld](https://blog.myfreightworld.com/blog-posts-myfreightworld/monthly-musings-february-2024)

 Written by [mike](https://blog.myfreightworld.com/blog-posts-myfreightworld/author/mike) | Feb 19, 2024 11:15:20 AM

| # Trucking Industry News |
| --- |

| ## Container Freight ### Source \| [Descartes](https://www.descartes.com/resources/knowledge-center/global-shipping-report-january-2024-us-container-import-volumes-rose-on-higher-chinese-imports) |
| --- |

|  |
| --- |

| U.S. container import volumes rose 7.9% MoM in January 2024, marking the largest increase for January in seven years. - This increase was driven by a 14.9% rise in imports from China. - Key U.S. ports like Los Angeles and Long Beach saw the majority of this growth. - YoY, January experienced a 9.9% increase in TEU volume compared to 2023. - This report indicates strong import activity despite potential supply chain challenges from global events. |
| --- |

| ## Logistics Manager Index ### Source \| [the-lmi.com](https://www.the-lmi.com/january-2024-logistics-managers-index.html) |
| --- |

|  |
| --- |

| The LMI rose to 55.6 in January 2024, a +5.0 point increase from December. - This points towards a rise in both inventory levels and costs. - All indicators within the LMI showed growth for the first time since September 2019, signaling a positive trend towards expansion in the logistics industry. - Encouraging beginning to the year, bolstered by increasing consumer confidence and economic vitality. |
| --- |

| ## US Manufacturing Purchasing Manager’s Index ### Source \| [ISM.com](https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/january/) |
| --- |

|  |
| --- |

| The Manufacturing PMI reported at 49.1%, indicating a slowdown in contraction. - The New Orders Index shifted into growth mode, reaching 52.5%, marking 5.5% increase from the previous month of December. - Production Index hit 50.4%, showcasing a slight 0.5% MoM growth. - In January, the Price index jumped to 52.9%, signaling a 7.7% uptick in performance. - The backlog of orders index was recorded at 44.7%, showing a slight decrease of 0.6% MoM. - The Employment Index was recorded at 47.1%, experiencing a decrease of 0.4% MoM. - Overall, the sector shows resilience with growth in key areas. |
| --- |

| ## Trucking Tonnage ### Source \| [Trucking.org](https://www.prnewswire.com/news-releases/ata-truck-tonnage-index-decreased-3-5-in-january-302066411.html) |
| --- |

|  |
| --- |

| The ATA Truck Tonnage Index decreased 3.5% in January - January index fell to 111.0 from December’s 115.0. - This is a 1.2% increase from December. - Marking the 11th consecutive year-over-year decline, with a 4.7% drop compared to January 2023. - Winter weather was a likely driver in impacting freight volumes. - Other notable factors include a decline in retail sales and manufacturing output. |
| --- |

| ## Retail Sales ### Source \| [Census.gov](https://www.census.gov/retail/sales.html) |
| --- |

|  |
| --- |

| January 2024 retail sales reported at $700.3 billion dollars. - There was a slight decrease of 0.8% compared to the previous month, but a 0.6% increase from the previous year. - Retail sales in traditional brick-and-mortar stores experienced a 1.1% decrease MoM. - Online retailers experienced a 6.4% growth MoM. |
| --- |

| ## Cass Freight Index ### Source \| [Cassinfo.com](https://www.cassinfo.com/freight-audit-payment/cass-transportation-indexes/january-2024) |
| --- |

|  |
| --- |

| The January 2024 Cass Freight Index Report revealed significant shifts in the freight sector, including a -7.6% YoY decline in shipments and a -24.3% YoY drop in expenditures. - There was a 3.5% decrease in the total expenditure on freight compared to the previous month, and a significant 24.3% decrease compared to the same time last year. - Shipping volumes declined 7.6% both MoM and YoY. |
| --- |

[View full post](https://blog.myfreightworld.com/blog-posts-myfreightworld/monthly-musings-february-2024)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "mike"
  },
  "dateModified" : "2024-03-11T16:38:09.409Z",
  "datePublished" : "2024-02-19T11:15:20Z",
  "headline" : "Monthly Musings – February 2024",
  "image" : {
    "@type" : "ImageObject",
    "height" : 750,
    "url" : "https://23328037.fs1.hubspotusercontent-na1.net/hubfs/23328037/Imported_Blog_Media/Monthly-Musings-February-2024.png",
    "width" : 750
  },
  "mainEntityOfPage" : "https://blog.myfreightworld.com/blog-posts-myfreightworld/monthly-musings-february-2024",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : "Blog Posts | MyFreightWorld"
  }
}
```