ISM PMI

Weather slows Old Dominion’s hot start to year

Severe winter weather only impacts one week of Old Dominion's first quarter

Less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced Tuesday that severe winter weather slowed its operations for one week during February. For the month, revenue per day increased 9.2% year-over-year as tonnage climbed 5.9% and revenue per hundredweight, or yield, increased by roughly 3%.

Winter storms during February were a detractor to Old Dominion’s hot start to the year. In January, daily revenue increased 14.6% year-over-year with tonnage climbing 11.9%.

“Old...

https://www.freightwaves.com/news/weather-slows-old-dominions-hot-start-to-year

ISM monthly manufacturing report points finger at slower deliveries from suppliers

The slow pace of deliveries in the supply chain is creating a drag on the economic recovery, according to the latest monthly manufacturing Purchasing Managers Index from the Institute for Supply Management.

The ISM report put the index for supplier deliveries at 59. That is a 0.8 percentage point weakening from the 58.2 in August, and significantly worse than the 55.8 recorded for July. 

“Suppliers continue to struggle to deliver, with deliveries slowing at a faster rate compared to August,”...

https://www.freightwaves.com/news/ism-monthly-manufacturing-report-points-finger-at-slower-deliveries-from-suppliers