The November Logistics Managers’ Index (LMI) fell to 55.7, revealing early signs of renewed inflation as the industry enters year-end. The decline is largely driven by weakening inventory and warehousing activity, even as transportation continues to expand moderately.

Key highlights from the report:

• Warehousing Utilization dropped sharply (−9.0) to 47.5, marking the first contraction recorded in the index’s 9-year history.
• Available Capacity rose (+2.8) to 54.8, reaching its highest level since April.
• Warehousing Prices eased (−4.8) to 62.9, the lowest since March.
• Inventory Costs remain highly expansionary at 70.8, reflecting sustained cost pressure moving into 2025.

Overall, the softening in warehouse markets contrasts with persistently high logistics costs. As companies prepare for 2026, the findings highlight a growing need for stronger cost control, improved planning, and smarter deployment of digital tools to stay competitive in a shifting supply chain landscape.