Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

FTR Gives Insight Into State of General Economy, Trucking Industry

To sum up the general economic outlook for the upcoming months in one sentence: More of the same for 2013 and then better in 2014. That is how FTR Associates Senior Consultant Bill Witte predicted the overall economy will be in the near future at the recent State of Freight Summit held by FTR.

Kate Harlow
Kate HarlowAssociate Editor
June 11, 2013
3 min to read


To sum up the general economic outlook for the upcoming months in one sentence: More of the same for 2013 and then better in 2014.

That is how FTR Associates Senior Consultant Bill Witte predicted the overall economy will be in the near future at the recent State of Freight Summit held by FTR.

Ad Loading...

In his presentation entitled, "U.S. Economy: Do the strengths outweigh the risks?" Witte forecasted an output growth of 2.2% for 2013 and 3.1% for 2014.

He also predicted that the end of the year unemployment figures would drop to 7.2% in 2013 and would end 2014 at 6.3%.

Witte states that there are factors that could affect economic conditions and his far-out predictions for 2014. One of these factors includes the federal sequester. His model assumes that the sequester takes effect mostly in the second and third quarters of 2013. The model has the sequester being worked out before 2014, otherwise economic growth won't be as strong as he is currently predicting.

Ad Loading...

The sequester is forecasted to reduce GDP growth to the tune of four-tenths of 1% from the second quarter of 2013 through the first quarter of 2014. Other predicted outcomes from the sequester include a reduction in government expenditures by 1.5% and an average loss of 30,000 jobs per month totaling 350,000 jobs lost for the year.

When asked about the manufacturing sector specifically, Witte said, that the likelihood of seeing strong growth on the manufacturing side is not likely.

Nöel Perry, managing director and senior consultant with FTR, commented that there is a correlation between the state of manufacturing and the economic state of transportation.

"We are close to going into recession in manufacturing," Perry said. And according to him, it's just about time for a transportation freight recession.

Since 1970, Perry said that there has been a freight recession every five years on average. The longest span without a recession was seven years, and the shortest was three years.

Ad Loading...

In his presentation, "Trucking: Will you feel the crunch?" Perry focused on the most recent recovery and the outlook for the trucking industry.

In general terms, Perry stated that he wasn't really confident about freight over the next year. Specifically, there are three possibilities he is concerned about.

One: If optimism in consumers creates a "boomlet" and, in turn, a manufacturing surge, the trucking industry will not be ready for those numbers.

Two: As he stated before, every five years on average the trucking industry experiences a freight recession.

Three: Much of the rest of the world is not economically healthy.

Ad Loading...

"Europe is in a depression and China's numbers are weakening," Perry said.

Perry also predicted that as upcoming federal regulations go into affect, they could have a dramatic impact on trucking capacity. For most of 2013, roughly an additional 200,000 drivers recruits were required, but in the third quarter of 2013 (after the impact of HOS goes into affect) that number increases rapidly. As of the first quarter in 2014, Perry estimates that nearly 400,000 additional driver recruits will be required to meet increased trucking capacity demands.

As even more federal regulations go into affect the number of additional driver recruits needed reaches over 1 million at the end of 2016.

"We are in for some very substantial [driver and capacity] shortages unless we have a recession to balance that out some," Perry noted.

More Fleet Management

Red Kodiak-branded autonomous tractor with Charger-branded trailer backed up to warehouse
Fleet Management•October 30, 2026

Kodiak Lines Up Fleets for Driverless Trucking

An agreement for 75 trucks, a new Texas freight lane, and progress on safety validation move Kodiak closer to its planned driverless highway launch.

Read More →
Illustration with Star of David and EEOC logo
Fleet Management•by News/Media Release•October 28, 2026

ITS Logistics Settles Religious Harassment Case

The Nevada-based logistics firm agreed to pay more than $396,000 to settle a religious harassment charge involving an employee's Jewish identity.

Read More →
Truck on divided interstate highway driving toward sunrise
Fleet Management•October 27, 2026

Your Trucks Are Busy. That Doesn’t Mean They’re Winning.

High utilization doesn’t always mean strong margins. Looking beyond the current load can help fleets make better dispatch decisions and get more value from each truck’s time.

Read More →
Ad Loading...
ATA economist Bob Costello speaking beside a graph showing truckload operating costs rising as freight revenue per mile declined after 2022.
Fleet Management•by Deborah Lockridge•October 22, 2026

Why This Trucking Recovery Is Different

Freight demand remains sluggish, but rising costs and tougher enforcement have taken enough capacity out of the market to change the outlook for motor carriers.

Read More →
PS Coach tablet interface showing a driver’s coaching inbox, safety event video and coaching advice for a harsh-braking event.
Fleet Management•by News/Media Release•October 21, 2026

Platform Science Adds Dispatch and Safety Tools

Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.

Read More →
Screen capture showing PrePass Intelligence data on tolls
Fleet Management•by News/Media Release•October 21, 2026

PrePass Intelligence Mines Fleet Bypass, Toll and Safety Data

PrePass Intelligence helps fleets measure bypass savings, flag potential toll overcharges, and spot suspicious transactions by combining data from separate systems.

Read More →
Ad Loading...
Computer screen showing examples of what fleets could ask Motive AI Agents to do
Fleet Management•by Staff•October 20, 2026

Motive Adds AI Agents for Fleet Operations

New tools automate follow-up on fleet data, from maintenance work orders to driver alerts, with two-way voice conversations planned for later this year.

Read More →
Graphic art with a heavy-duty tractor trailer and a work truck with the words "trivia lunch"
Fleet Management•by Lauren Fletcher•October 19, 2026

Can You Beat Our Trucking Trivia Challenge?

Test your truck knowledge with 19 trivia questions from Heavy Duty Trucking Exchange. Can you keep up with the fleet pros?

Read More →
Four horizontal and two vertical video screens show different aspects of BeyondTruck's new compatibility engine
Fleet Management•by Deborah Lockridge•October 19, 2026

BeyondTrucks Adds Rules Checks to Dispatch

New Compatibility Engine checks driver qualifications, equipment requirements and fleet policies before loads are dispatched.

Read More →
Ad Loading...
Gloved hand fueling a truck beside a graphic listing ATRI’s top three trucking concerns for 2026: fuel prices, lawsuit abuse reform and CSA.
Fleet Management•by Deborah Lockridge•October 19, 2026

Diesel Prices Hijack Trucking’s Worry List

ATRI’s annual survey finds cautious optimism about freight, but diesel costs, litigation, and insurance continue to squeeze fleets. Drivers have different priorities on several issues.

Read More →