Key Takeaways – Q2 2024
Q2 2024 Market Update
Hard winter weather at the start of the year temporarily hindered the restaurant economy but pace picked up in March and appeared to be normalizing somewhat as the first quarter closed. The tragic accident that collapsed the Francis Scott Key bridge in Baltimore Harbor on March 26 has prompted aggressive response industry-wide to identify and optimize shipping alternatives for inbound products. ACR supply chain and logistics teams are in close contact with ocean freight providers and will stay on-top of the situation as recovery efforts continue. Inflation remains a factor for restaurant patrons and operators. Despite the steady retreat of price increases from over 22% eighteen months ago to now around 3%, just a point above the US Fed’s target rate for inflation in a healthy economy. Restaurant operators challenged to constrain cost can count on ACR for product diversity and cost-minimizing value offerings that are right for every application. International Monetary Fund expects emerging economies in Asia to grow 5.2% this year — a 0.4 percentage point upgrade from its forecast in October. The IMF upped its global economic growth projection to 3.1% in 2024 due to the greater-than- expected resilience of the U.S. and several large developing economies as well as fiscal support in China. While Taiwan, Malaysia and Thailand were still mired in sub- 50 readings, Malaysia’s 49 was its best reading in 17 months. Taiwan and Thailand also saw improvements in January over December’s performance. (CNBC, IMF) • Undoubtedly contributing to this is on-going source country diversification by North American suppliers including AmerCareRoyal, that continue to develop robust alternative sourcing options away from mainland China. Distributors and Operators seeking operational security for their supply chains can rely on ACR’s deep level of country -of-origin diversity and domestic manufacturing capabilities across the ACR product portfolio.
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AmerCareRoyal© 2024
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