U.S. logistics costs rose 7 percent, or $91 billion, to a record high of $1.4 trillion in 2007 driven largely by soaring fuel prices and extra costs to hold slow turning inventory in a soft economy, according to an annual report that tracks trends in logistics spending.
Logistics costs represented 10.1 percent of the Gross Domestic Product, crossing a double-digit efficiency benchmark for the first time since 2000, when logistics costs were 10.3 percent of the overall economy.
Last year marked the fourth consecutive record high for logistics costs, but the growth in logistics expenditures slowed from 11 percent in 2006, when logistics costs represented 9.9 percent of GDP. |
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Source: .americanshipper.com
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