The Economic Tea Leaves of Trucking
Amid concerns over whether the nation might be slipping into a second recession, it’s interesting to note that many pundits are turning to the trucking industry to read the economic tea leaves.
A recent National Public Radio story highlighted how truck tonnage is a key barometer of where the economy is headed. After all, trucks carry more than 67 percent of all freight transported in this country. As the report points out, the more truckers are hauling, the better things appear to be headed for business and industry.
And there is cause for some optimism. According to the American Trucking Associations, the truck tonnage index in September jumped 1.6 percent after a miniscule drop the previous month. “I continue to believe the economy will skirt another recession because truck tonnage isn’t showing signs that we are in a recession,” said ATA chief economist Bob Costello. “Tonnage is suggesting that we are in a weak growth period for the economy, but not a recession.”
Have a safe weekend – and happy Halloween!
American Trucking Associations , ATA , truck tonnage , trucking , trucking industry