The Logistics Managers’ Index (LMI) slipped to 59.2 in July, down -1.5 pts from June and marking the fourth straight month of slowing expansion, driven by easing Inventory Costs and Inventory Levels.

• Inventory Costs fell -9.0 pts to 71.9, still signaling robust expansion but at a slower pace; future expectations dropped -6.6 pts to 75.3.
• Inventory Levels declined -4.2 pts to 55.6, with large firms and Downstream respondents reporting contracting stock; expectations for the next year fell to 56.7.

• Warehousing Capacity rose +3.3 pts to 51.1, returning to expansion for the first time in four months; future outlook edged up to 52.2.

• Transportation Utilization jumped +6.6 pts to 59.5, the highest since January; future index rose +7.0 pts to 64.2.
• Transportation Prices increased +1.0 pt to 63.0, with future prices seen rising sharply to 75.5, especially Upstream.