There was more encouraging economic news this week for trucking, following earlier news that manufacturing may be starting to rebound.
The U.S. Commerce Department reported Friday morning the wholesale inventories in this country fell a hearty 0.7% in July,
the biggest single month decline in almost five years. Sales increased 0.6%, while the inventory-to-sales radio, which measures how long it would take to deplete current inventories, fell from 1.33 months in June to 1.32 months in July.
For the trucking industry that is welcome news, says Newport Communications Senior Economist Jim Haughey, but more improvement is needed.
“Total wholesale inventories must fall another 5-6% or sales must rise about 4% for inventories to be back in balance,” he said.
According to Haughey, the 0.6% gain in wholesale sales is not as good as it sounds because this figure has a large margin of error.
“Sales were reported down nearly 3% over the previous two months," he says. "We can only be sure that the July sales change was in the range of -1.7% to +2.9%. Other recent retail and manufacturing data suggests that wholesale sales are likely steady to slightly up.”
He also describes the inventory to sales radio as “about two days too much inventory based on the I/S ratio in recent periods of inventory balance.”
The July drop in inventories was led by two categories. Electrical equipment stocks fell almost 4%, while inventories of durable goods dropped by 0.8%. Inventories of non-durable goods posted a 0.6% drop, and several other categories also posted declines.
Meanwhile, the increase in July sales was the biggest since December and is a sharp increase from a revised 1.1% drop in June.
Earlier in the day, the Labor Department released a piece of news that surprised few people. Unemployment in the Untied States increased from 4.5% in July to 4.9% in August, the highest rate since September 1997.
Many of the job losses were in the manufacturing sector, an important trucking customer, which has laid off more than a million people in just over the past year.
Some analysts are concerned that news of increasing unemployment might scare consumers, whose fairly strong spending levels have so far managed to keep the economy from further hitting the skids this year.
Wholesale Inventories Drop, Sparking More Economic Hope
There was more encouraging economic news this week for trucking, following earlier news that manufacturing may be starting to rebound. The U.S. Commerce Department reported Friday morning the wholesale inventories in this country fell a hearty 0.7% in July
More Fleet Management

HDT Q&A: Brian Antonellis on the Growing Need to Replace Old Trucks
Fleet Advantage's Brian Antonellis says it's time for fleets to get back to the fundamentals of good maintenance practices. And that includes replacing older, inefficient equipment.
Read More →
Truckstop.com Adding to Open Deck, Heavy Haul Offerings
Load matching for flatbed, lowbed, oversize and overweight loads can't be automated like basic van freight, but Truckstop.com is adding more high-tech tools to help.
Read More →
Trucker Path, Truckstop.com Expand Load Access Partnership
An expanded Trucker Path and Truckstop.com integration brings more freight opportunities into the TruckLoads app while emphasizing security and network quality.
Read More →
Truckload Rates Hit Two-Year Highs as Diesel Costs Surge, DAT Says
Strong March freight demand combined with a spike in fuel costs pushed both spot and contract truckload rates to their highest levels in more than two years.
Read More →
The AI Conversation You Need to Have with Your TMS Provider
Everyone’s talking about AI — but is your transportation management system actually built for it?
Read More →
Kriska Buys Fellow Canadian Carrier Sharp Transportation Systems
Being part of KTG will allow Sharp to expand and improve its services.
Read More →
Bill in House Would Raise Minimum Insurance for Motor Carriers to $5 Million
The Fair Compensation for Truck Crash Victims Act would increase insurance requirements for interstate motor carriers by nearly seven times.
Read More →
FTR Trucking Conditions Index Hits Four-Year High in February
Strong freight rates push TCI to 10.2, but FTR expects fuel-price volatility to skew March results.
Read More →
C.H. Robinson Offers Carriers Relief as Diesel Prices Surge
C.H. Robinson is waiving fees on fuel cards and cash advances for April and May, aiming to help carriers offset rising diesel costs tied to geopolitical instability.
Read More →
What Trucking Events are Happening in 2026?
Looking for trucking-related conventions, expos, and other events? Heavy Duty Trucking has developed this list of national and larger regional trucking shows and events.
Read More →
