The US Logistics Managers’ Index declined for a second straight month in August 2026, slipping to 66.6 from 68.9 in July, and signaling the slowest growth in the logistics sector in six months. The moderation was largely driven by a deceleration in inventory growth, even as logistics costs continued to rise sharply.
Inventory Levels edged down 2.2 points to 52.8, with the slowdown concentrated primarily upstream. In contrast, Inventory Costs rose further, climbing 1.6 points to 78.6 — their second-fastest pace of expansion in the past year.
Similar patterns emerged in warehousing and transportation. Warehousing Capacity increased 7.2 points to 53.5, marking its strongest expansion so far this year, while Warehousing Prices remained high, easing only slightly by 0.5 points to 75. Transportation Capacity continued to contract, though at a slower rate, rising 11.6 points to 40, while Transportation Prices accelerated, gaining 3.1 points to reach 90.
Overall, the August data depict an environment in which logistics costs are rising rapidly across the board, regardless of the underlying shifts in capacity and inventory levels.
