As the need for continual insight into changing supply chains continues, a new index, WOW Supply Chain Activity Index, was recently introduced. 

Created by Warehouse on Wheels (WOW),  the index is a monthly composite indicator of U.S. supply chain activity based on the independent storage trailer rental network's proprietary data, with eight widely recognized economic and supply chain indicators

The July 2026 WOW Supply Chain Activity Index, based on June 2026 supply chain activity, registered a reading of 42.2, placing the index in the contraction zone, signaling that overall manufacturing and warehousing activity remain below long-term norms.

A reading below 45 means each of those conditions is currently working against capacity providers and in favor of shippers. The environment is marked by lower freight rates, ample warehouse capacity, and limited pricing power across the storage sectors

The June 2026 activity reflected in the July WOW Index, while still firmly in contraction territory, indicates the market is stabilizing after a prolonged downturn and may be entering the early stages of recovery

The cycle peak of 73.6 was set in July 2021, at the height of the post-COVID restocking surge.

Insights drawn from the Index are as follows:

• The slide appears to have stopped. The index hit a seven-year low of 33.4 in January 2026 and has since improved by nearly nine points, suggesting supply chain conditions are stabilizing after an extended downturn.
• The recovery remains uneven. Despite the improvement from January lows, the index remains in the lower half of its historical range, reflecting a market that is still searching for sustained momentum.
• The next several months will be critical. Future readings will determine whether improving freight demand and inventory activity are strong enough to push the market back toward neutral conditions.