Many trucking industry experts believe that in a bad economy, truck driving is one of the first industries to see a decline, as well as a first to see signs of recovery when the economy takes a turn for the better. So…if this is true, could everything finally be looking up?
A senior economist for the American Trucking Associations (ATA), Bob Costello, is expecting “moderate growth” in the trucking industry in the coming months. “Slowly, but surely, truck freight has started the recovery process and November’s solid increase in For-Hire Truck Tonnage Index is a very positive sign,” noted Costello. Yet, he still remains cautious amid his optimism for recovery. “While the economy and trucking is improving, the truck driving industry should not get overly excited about the sizable increase in November,” Costello said. “I continue to believe that both the economy and truck tonnage will exhibit starts and stops in the months ahead, but the general trend should be for moderate growth.”
Because the trucking industry represents nearly 70 percent of tonnage carried by all modes of domestic freight transportation, it is, in a sense, a unit of measurement for the U.S. economy’s overall performance.
What do you think? Are there any trucking companies or owner operators out there that are seeing this upward turn in the economy?