<p>Ocean logistics companies are canceling orders amid declines in worldwide consumer <a href="http://dailywire.com/topic/economy" target="_blank" rel="noopener">demand</a>, according to a Monday <a href="https://www.cnbc.com/2022/10/03/ocean-shipping-orders-are-signaling-a-big-drop-in-consumer-demand.html">report</a> from CNBC.</p>
<p>As the world’s leading economies battle <a href="http://dailywire.com/topic/inflation" target="_blank" rel="noopener">inflation</a>, <a href="http://dailywire.com/topic/supply-chain" target="_blank" rel="noopener">supply chain</a> crises, and geopolitical tensions from the <a href="https://www.dailywire.com/topic/ukraine-russia-war" target="_blank" rel="noopener">Russian invasion of Ukraine</a>, logistics managers told CNBC that they are seeing 20% declines in ocean freight orders — a reality arising from uncertain consumer demand outlooks and the accumulation of existing inventory.</p>
<p>“Inventory levels are high as consumerism shifts further to off-price,” United National Consumer Suppliers CEO Brett Rose told the outlet. “Bigger brands are very conscious of current season and trends. A Bloomingdale’s consumer doesn’t want last season’s shoes or handbags. These items will be attractive to consumers of retailers like T.J. Maxx, Marshalls, Ross Stores.”</p>
<p>Falling demand has impacted multiple industries, from machinery and industrials to housing and clothing, according to CNBC. Demand for some goods, such as retail displays and ultrasound machines, remains strong. The growth of the global economy is expected to decline from 5.7% last year to 2.9% in 2022, according to June <a href="https://www.worldbank.org/en/news/press-release/2022/06/07/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets#:~:text=Global%20growth%20is%20expected%20to,that%20was%20anticipated%20in%20January.">forecasts</a> from the World Bank, which marked a downgrade from predictions made in January.</p>
<p>“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” World Bank President David Malpass explained. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions.”</p>
<p>Companies are canceling voyages to match lower customer demand with vessel space. HSL Logistics said in a note to clients that it cut vessels by nearly 50%, while other companies, such as DHL Ocean Freight, told CNBC that demand is expected to remain flat through October.</p>
<p>Meanwhile, ports on the east coast of the United States are witnessing heightened vessel congestion — a phenomenon worsened by Hurricane Ian, which <a href="https://www.dailywire.com/news/we-were-incredibly-hard-hit-stunning-video-shows-submerged-houses-blown-out-bridges-following-hurricane-ian">made landfalls</a> in Florida and South Carolina last week. With winds exceeding 150 miles per hour, the system was tied for the fourth-strongest hurricane ever to hit the Sunshine State.</p>
<p>Despite lower consumer demand, central banks across the globe are cutting target interest rates — a move that leads to lower economic activity and a higher cost of borrowing money — in order to quell soaring inflation. Among G20 economies, price levels increased by an average of 9.2% between August 2021 and August 2022, according to <a href="https://stats.oecd.org/Index.aspx?DataSetCode=G20_PRICES">data</a> from the Organization for Economic Cooperation and Development.</p>
<p>The Federal Reserve Bank of the United States <a href="https://www.dailywire.com/news/heres-what-the-federal-reserves-recent-rate-hike-means-for-the-economy">raised</a> the target federal funds rate by 0.75% last month, mirroring two identical rate hikes in June and July. The higher interest rates triggered a <a href="https://www.dailywire.com/news/if-hes-elected-the-stock-market-will-crash-trumps-2020-warning-about-biden-comes-true">stock market selloff</a>, with the Dow Jones <a href="https://www.dailywire.com/news/federal-reserve-announces-rate-hike-of-0-75">tumbling</a> roughly 500 points upon the news. Additional fears gripped Wall Street on Monday as <a href="https://www.dailywire.com/news/major-investment-bank-could-soon-be-the-next-lehman-brothers-some-on-wall-street-worry">rumors</a> regarding potential insolvency at Swiss investment bank Credit Suisse began to circulate.</p>
<p>To stimulate the economy during the lockdown-induced recession, policymakers at the Federal Reserve had initially <a href="https://www.dailywire.com/news/federal-reserve-releases-plan-to-more-urgently-address-high-inflation">pegged</a> a near-zero target interest rate and purchased government bonds from the market. Several leading companies across multiple industries — including Meta, Bed Bath &amp; Beyond, Ford, and Goldman Sachs — have <a href="https://www.dailywire.com/news/major-retailer-will-lay-off-20-of-staff-close-150-stores">announced layoffs</a> amid uncertain demand conditions induced by the new contractionary monetary policy regime.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Ocean Shippers Reveal Major Sign That The Global Economy Is In Dire Straits

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Economy

Inflation

Supply Chain

Ukraine-Russia War

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Ocean Shippers Reveal Major Sign That The Global Economy Is In Dire Straits