Economic Watch: New Figures Showing Storm Damage

Retail sales in the U.S. reversed course in August along with industrial production, both taking a hit due to due to recent storms, as price inflation reared its head, while consumers appeared to be ever resilient.

A Commerce Department report released Friday showed retail sales fell 0.2% last month from July, as motor vehicle sales tumbled 1.6%, the biggest decline since January.

Expectations were that August retail sales would improve 0.1%, according to a consensus estimate from Wall Street analysts.

The decline in auto sales comes as they were unchanged in July, however, they are expected to get a significant boost in the wake of hurricanes Harvey and Irma, which resulted in many vehicle being flooded out.

Also the 0.6% overall jump in retail sales in July was cut by the department to a 0.3% increase.

So-called “core sales” in August; which exclude automobiles, gasoline, building materials and food services; fell 0.2% following a 0.6% increase in July.

Despite the disappointing month-to-month performance total retail sales in August jumped 3.2% from the same time a year ago.

“In the first of many indicators this fall to be impacted by hurricanes, the August retail sales report showed the surge in gasoline sales was erased by the lost business from other categories in August,” said Eugenio J. Alemán, senior economist at Wells Fargo Securities. “In September, building supply stores will likely see much stronger sales as Houston and the entire state of Florida rebuild and recover from major back-to-back storms.”

Also on Friday, a measure of the total output from the nation's factories, mines and utilities was released, showing it declined 0.9% in August, following six straight monthly gains.

The decline in the Federal Reserve's Industrial Production Index came as Hurricane Harvey, which hit the Gulf Coast of Texas in late August, is ...Read the rest of this story

Continental updates VDO RoadLog Office

Continental announced it will provide VDO RoadLog users with free software updates for VDO RoadLog Office, Continental's online compliance reporting and fleet management tool.

VDO RoadLog Office is used in conjunction with VDO RoadLog ELDs to automate compliance reporting and provide advanced fleet management capabilities. In addition to free updates for the VDO RoadLog Office online compliance and reporting tool, free software updates will be provided for VDO RoadLog ELD and ELD Plus electronic logging devices.

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Spot Truckload Rates Jump in Wake of Hurricanes

The number of loads on the spot truckload freight market fell 3% during the week ending Sept. 9, which included the Labor Day holiday and supply chain disruptions caused by two hurricanes, according to freight matching provider DAT Solutions and its load boards.

Truckload capacity also tightened with truck posts down 15% compared to the previous week. A 20% reduction is typical for a holiday week. Van and flatbed load-to-truck ratios increased as a result:

Diesel prices continued to climb, rising 4 cents to $2.80 gallon as a national average. Higher fuel prices put pressure on national average spot rates compared to the previous week. All rates include fuel surcharges while average rates at their highest levels in at least the last four weeks.

Nationally, van load posts declined 3% and truck posts lost 17%. Houston freight levels bounced back to 88% of where they were before Hurricane Harvey, a remarkable achievement considering that the rebound happened during a four-day holiday week, according to DAT.

Reefer load posts declined 10% and truck posts fell 8% compared to the previous week. Outbound reefer rates in Atlanta rose 6 cents to an average of $2.46 per mile as freight hubs in the Southeast helped to re-stock markets in Arkansas, Louisiana, and Oklahoma that are usually served out of Houston. In Dallas, demand for reefer trucks led to a 19 cents increase to an average of $2.26 per mile outbound.

Flatbed load posts increased 4% nationally due in part to the need to move relief supplies and heavy equipment in Houston and Louisiana. Available capacity fell 20%, in line with expectations given ...Read the rest of this story

NGVAmerica appoints Daniel Gage as president

Natural Gas Vehicles for America (NGVAmerica) announced that Daniel Gage has been named its new president. Gage succeeds Matthew Godlewski, who recently joined Ford Motor Company.

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FTR: Class 8 production to top 300,000 units in 2018

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Fuso’s electric truck now available to commercial fleets

NEW YORK, NY. Construction clanking, sirens from emergency vehicles, and other typical city traffic noise served as the backdrop for Thursday's global launch of Mitsubishi Fuso's medium-duty electric delivery truck here in New York City's East Village.

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FHWA three-truck platooning test

The Federal Highway Administration (FHWA) recently sponsored a two-day demonstration of three-truck platooning on public roadways in Northern Virginia; the results of four years' worth of research and testing. Guided by police escort, the three tractor-trailers took journalists and other industry experts from a staging area in Centreville, VA, along routes established on Rt.

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