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UPDATED -- The third quarter earnings season continued on Thursday with the release of reports showing more trucking companies had lower earnings compared to a year ago, with another held on.
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Profit for the Tennessee-based parent to Covenant Transport plummeted in the third quarter, while Landstar System recorded only a 7.6% decline, according to numbers released late Wednesday afternoon.
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After offering a glimmer of “less bad” hope in August, one measure of freight shipments data in September disappointed.
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While the strength of nation’s homebuilding market has eased just a bit, it remains robust. Meanwhile, a measure of consumer prices show it’s approaching a level the Federal Reserve has said it needs to hit in order to raise interest rates.
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The total output from the nation’s factories, mines and utilities rebounded last month, posting its best quarterly performance in a year, due in part to increased manufacturing, according to new Federal Reserve figures.
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Third quarter earnings for the nation’s trucking companies began rolling in on Monday, following reports of lowered expectations as several negative factors weigh on the nation’s freight markets.
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Retail sales in the U.S. posted a solid gain in September, indicating consumers remain confident about the economy – but a separate report revealed that certainty is being hit by the race for White House.
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The amount of freight moved by the nation’s for-hire transportation industry fell in August after rising four straight months, according to new Transportation Department figures, and reflecting trends in the overall economy.
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The American Trucking Associations’ annual Management Conference & Exhibition wrapped up in Las Vegas last week, so Editor in Chief Deborah Lockridge has had a little time to reflect on the key themes of the many sessions, announcements and expo booths for her "All That's Trucking" blog.
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When are truck freight levels, pricing and even the economy going to be at the level we are accustomed to seeing? Evan Lockridge recaps the FTR Transportation Conference for his Oct. magazine column.
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