Sunday, August 01, 2010

Trucking Industry Says U.S. Economy is Slowing as For-Hire Truck Tonnage Index Decreased 1.4% in June, 2010

The truckers deliver America's goods, so their opinion on the slowing economy is telling. In fact, I believe the truckers before I believe the politicians.

ATA Chief Economist Bob Costello said that the two sequential decreases reflect a slowing economy and growth in truck tonnage is likely to moderate in the months ahead as the economy decelerates. However, Costello believes that tonnage doesn’t have to grow very quickly at this point since industry capacity has declined so much. “Due to supply tightness in the market, any tonnage growth feels significantly better for fleets than one might expect,” he said.

Source: American Trucking Associations

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