Chinese manufacturing orders decline by 20-30%, according to shippers, as consumers pull back on buying goods

Chinese manufacturing orders decline by 20-30%, according to shippers, as consumers pull back on buying goods

• Chinese manufacturing orders are down by as much as 30% for some logistics companies as consumers shift spending to services.
• A DHL executive described it as a tipping point for the “ship at any cost” economy that has recently dominated in the U.S. amid high consumer demand.
• Vessel volumes continue to grow at U.S. East Coast and Gulf Coast ports including Savannah and Houston, according to the CNBC Supply Chain Heat Map, as labor talks on the West Coast threaten to cause more supply chain issues.

https://www.cnbc.com/2022/06/21/chinese-manufacturing-orders-drop-as-consumers-pull-back-on-goods.html