The Logistics Manager’s Index in the US fell to 57.4 in September 2025, its lowest level in six months, down from 59.3 in August. The decline signaled a moderation in logistics sector expansion, driven by slower growth across most components and reflecting broader uncertainty in the economy. Transportation utilization dropped sharply (-4.7 to 50), indicating stagnation and the weakest September reading on record, a notable development given the typically busy freight season. A slight negative freight inversion that began in August also persisted, with transportation prices (-2 to 54.2) slipping just below transportation capacity (-2.2 to 55.1). Meanwhile, inventory levels expanded at a slower pace (-3.1 to 55.2), though inventory costs remained elevated (-3.7 to 75.5). On the other hand, both warehousing capacity (+1 to 51.6) and warehousing utilization (+3.2 to 65.3) accelerated, while warehousing prices recorded the steepest decline among all metrics, falling 6.3 points to 66.
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