Report: Logistics Indicators Show Slight Growth in September

The logistics industry appeared to be clawing its way back in September, according to key metrics covered in a new report.

The Logistics Manager’s Index (LMI) — a combination of various industry indicators — rose 1.2 points to 52.4 in September, according to the research team that compiles the index each month.

September was the second straight month of LMI growth, though this was not enough to offset the three prior months of straight decline. Additionally, the growth in August and September represents only a “modest level of expansion,” as the September high-water mark of 52.4 is still significantly below the peak average of 62.9.

“This second consecutive expansion provides further evidence suggesting that the move towards growth in August was not a one-off occurrence and may have marked a turning point back towards growth in the logistics industry,” the researchers wrote Oct. 3. “It is possible we could see the index slide back into contraction … However, we have generally observed strong rates of growth in the fourth quarter, so seasonally speaking, it would be unusual to see a move back towards contraction through the rest of 2023.”

The LMI is calculated using a variety of metrics, such as inventory levels, warehousing capacity, utilization, transportation capacity and pricing.