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Institute for Supply Managment (ISM) Manufacturing Report on Business:
Economic activity in the manufacturing sector continued to climb in June for the 13th consecutive month:
News
Overland Park, Kan., July 1, 2014 – For the fourth consecutive year, Ingram’s business magazine named MIQ Logistics as one of the Kansas City area’s top 100 privately-held companies. MIQ Logistics consistently has placed in the upper 40 percent in the publication’s annual survey of revenue, headcount and number of locations.
In follow up to MIQ’s Trade Alert of May 27, 2014; the PMA / ILWU the current labor contract is set to expire on July 1, 2014. No one expects a renewed contract agreement prior to July 1. It is important to note that from the beginning of the contract talks on May 12, 2014, BOTH sides have said that they are committed to reaching an agreement without any labor disruption. So unified have they been on this message, when there was a rumor that the talks had broken down on June 4, 2014 a joint press release was immediately issued reaffirming their mutual commitment to working through an agreement without any labor disruptions.
Economic Update
“May’s increase in the LEI, the fourth consecutive one, was broad based,” said Ataman Ozyildirim, Economist at The Conference Board. “Housing permits held the index back slightly but the LEI still points to an expanding economy and its pace may even pick up in the second half of the year.”
“Recent data suggest the economy is finally moving up from a 2 percent growth trend to a more robust expansion,” said Ken Goldstein, Economist at The Conference Board. “The CEI shows the pace of economic activity continued to gain traction in May, while the trend in the LEI remains positive. Going forward, the biggest challenge is to sustain the rise in income growth which will drive consumption.”
FedEx Corp. said it reported to U.S. authorities possible bribes to government officials in Kenya, according to a report Tuesday by the Wall Street Journal.
Please note the following MIQ Logistics holidays. All MIQ Logistics offices within the specified country will be closed on the dates listed, unless noted otherwise.
On May 12, the PMA (the negotiating body for the west coast marine terminal operators) and the ILWU (the west coast longshore union) began 2014 contract negotiations in San Francisco. Each side has laid out their starting demands most of which will either be settled quickly or completely dismissed depending on merit by both parties. The ILWU indicated that they want a two year contract while the PMA prefers a six year contract but have indicated they could concede to a minimum contract term of no less than three years.
Overland Park, KS, May 21, 2014 – MIQ Logistics recently named Tony Ponder general manager for its Atlanta global logistics center. For Ponder, this is a dual role, since he will continue as Business Development director for the South region.
“The LEI rose for the third consecutive month, driven largely by improving housing and financial market conditions,” said Ataman Ozyildirim, Economist at The Conference Board. “This latest report suggests the economy will continue to expand, and may even pick up steam through the second half of the year.” “Despite a brutal winter which brought the economy to a halt, the overall trend in the leading economic index has remained positive,” said Ken Goldstein, Economist at The Conference Board. “If consumers continue to spend, and businesses pick up the pace of investment, the industrial core of the economy will benefit and GDP growth could move closer towards the 3 percent range.”