Today, WarehouseQuote launches the Q2’2024 Warehouse Pricing Index, (WPI), with national and regional level warehousing insights surrounding the current costs for outsourced inventory management.
National storage costs have increased 0.5% year-over-year, according to the Q2’2024 warehouse pricing report. After a year’s worth of destocking efforts, many warehouse operators have an ample amount of available capacity for the first time since 2020.
Executive Summary
- 0.5% increase in the national average of warehouse storage costs year-over-year in Q1 ’24 vs Q1’23, with a 0.6% decrease quarter-over-quarter
- The national average of warehouse storage costs has decreased slightly over four consecutive months: a first, since the WPI has been published
- The Midwest region led the U.S with a 4.4% increase from Q1’23 to Q1’24
- Logistics Managers’ Index Inventory Levels hit 63.8, marking the highest point since October 2022
- Consumer Sentiment is up 28.1% year-over-year ending in March, according to the University of Michigan’s Index of Consumer Sentiment
- RSM’s Q1’24 Middle Market Business Index (MMBI) eased slightly in Q1’24 to 130.8 (-1.4 index points)
The Q2’2024 report also includes comprehensive insights from C.H. Robinson, S&P Global Market Intelligence, and MyFreightWorld.
Logistics and supply chain professionals can sign up for quarterly market updates to stay ahead of today’s dynamic supply chain landscape.
WarehouseQuote is a managed warehousing solution helping middle market and enterprise businesses drive business results. Our vetted warehousing network, operations expertise, and integrated technology platform enable businesses to build custom warehousing and fulfillment solutions connected by a single technology platform. Hundreds of B2B and B2C businesses use WarehouseQuote to scale, streamline, and optimize their warehouse operations.