US manufacturers building up inventories moved more goods by truck in August, increasing their average shipping volume 1 percent year over year and 1.6 percent from July, according to data provided Monday by freight visibility provider FourKites. The average shipping volume for all other sectors fell 4.6 percent from a year ago in August, said Todd Simms, FourKitesʼ vice president of industry strategy, manufacturing.
The rise in manufacturing shipments in August followed a 0.7 percent sequential monthly increase in US manufacturing output in July, as reported by the US Census Bureau. Year over year, manufacturing output rose 3.2 percent in July as industrial demand remained steady, despite the uncertain economic outlook. Simms said uncertainty is driving some of the increase in manufacturing volumes.
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