United States LMI Logistics Managers Index

The Logistics Manager’s Index in the US fell to 55.7 in November 2025 from 57.4 in each of the previous two months, pointing to the slowest growth in the logistics sector since June 2024. The slowdown is driven by a continued softening of inventory and warehousing metrics but tempered by some expansion in transportation. Warehousing utilization contracted for the first time in the 9-year history of the index (47.5 vs 56.5), due to the rundown of the large stocks on inventories that were built up through the first nine months of 2025. As a result, warehousing capacity increased (54.8 vs 52) and warehousing prices slowed (62.9 vs 67.7). Meanwhile, inventory levels moved back into mild expansion (52.5 vs 49.5) and inventory costs eased (70.8 vs 73.2). On the other hand, transportation markets are continuing the upward trend, with transportation capacity dipping (50 vs 54.5), transportation utilization slowing (51.5 vs 57.3) and transportation prices (64.9 vs 61.7) increasing.