The March Logistics Managers’ Index (LMI) has jumped 4.2 points since February to be 65.7, which is also the fastest level of expansion since May 2022 when the reading was 67.1.

LMI producers say the March jump is driven by continued expansion in the freight market with the Transportation Prices metric jumping 12.7 points in March to sit at 89.4 against the continued contraction of Transportation Capacity which dropped 1.8 points to 39.2.

“It is notable that the Transportation Prices reading of 89.4 in March of 2026 is so similar to the reading of 89.7 we saw in March of 2022,” LMI authors state. 

“Much like the spike four years ago, the rapid increase this month is at least partially attributable to the start of an armed conflict that has limited available oil supplies. 

"The invasion of Ukraine took approximately 10% of oil supplies off the board in 2022 and the conflict with Iran – and subsequent closure of the Strait of Hormuz – has taken approximately 20% of oil off the board in 2026. 

“In 2022, this caused significant supply-drive inflation which slowed consumer demand and ultimately led to long-lasting freight recession.”

The LMI is produced by researchers at Arizona State University, Colorado State University, Florida Atlantic University, Rutgers University, and the University of Nevada, Reno in conjunction with the Council of Supply Chain Management Professionals (CSCMP), using responses from supply chain professionals.

It is calculated on a combination of eight unique components that make up the logistics industry, including: Inventory Levels and Costs, Warehousing Capacity, Utilisation, and Prices, and Transportation Capacity, Utilisation, and Prices.

Any reading above 50.0 indicates that logistics is expanding in the US; a reading below 50.0 is indicative of a shrinking logistics industry.