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FTR is reporting that its Trucking Conditions Index for October 2020 literally went off the charts to the highest reading the research firm has ever recorded.
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With a severe driver shortage and a supply chain still in chaos from pandemic-induced shifts in consumer behavior, one industry observer is warning of likely hoarding as we get into the holidays. Longer term, vaccine distribution is “THE driver” for broader economy recovery and the post-2021 outlook.
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Although the economic recovery from the COVID-19 shutdown is definitely not a “V” shape, it’s growing steadily – but don’t expect to be back where we were until mid-2022, said Jeffrey Rosensweig of Emory University.
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Improvements in industrial production and housing may help drive a truck freight recovery, but spikes in COVID-19 cases in many parts of the country and questions about what Congress may or may not do leave a lot of uncertainty in the forecast, according to analysts at FTR.
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The global shutdowns caused by the COVID-19 pandemic continue to wreak havoc in economic forecasting.
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Pandemic lockdowns are easing and freight levels are increasing, but the COVID-19 virus is still out there, and it may take a while for the economy to recover. What does the future hold for our country’s economy and the trucking industry?
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How will reopening impact truckload demand and freight rates in the near future? What will freight rates look like in the next six to 12 months? This video from Convoy explores those questions.
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The U.S. economy was rocked today by shocking numbers of 3.3 million people filing unemployment claims for the first time, but the worst is still to come for trucking.
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Used Class 8 truck sales improved 4% month-over-month in January, but sales were down 1% year-over-year compared to January 2019.
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Bob Dieli, an economist with aftermarket research firm MacKay and Company, identifies these as economic boom times. But good things don’t last forever.
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