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Trucking employment in the U.S. slipped in September despite overall non-farm job growth moving higher for the 72nd straight month, according to a new Labor Department report. But other reports indicate manufacturing is regaining some steam, fueling speculation over an interest rate hike.
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LAS VEGAS -- There is a lot of uncertainty about where the economy is headed, but there is reason for hope that it and business conditions for trucking are slowing improving.
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A preliminary report shows new orders and shipments for big-ticket manufactured durable goods lost steam in August. Inside the report, however, is some evidence that business investment for the long term is increasing.
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A preliminary report released Friday shows growth in the nation’s manufacturing sector is easing this month amid the slowest expansion of new orders so far this year, according the financial information services provider IHS Markit.
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Trucking and all other transportation modes except rail carried less cross-border freight by value in July compared to a year earlier, according to new U.S. Transportation Department figures.
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Freight shipments across all U.S. domestic modes continued improving in August but remain weak, according to the latest Cass Freight Index, while freight spending moved lower again with both resulting in mixed feelings when it comes to their economic impact.
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Nationwide housing starts fell 5.8% to a seasonally adjusted annual rate of 1.14 million units in August, according to newly released data from the Commerce Department on Tuesday, the latest disappointing economic indicator, but there are still feelings overall economic conditions are improving.
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Measures of both truckload and intermodal rates posted another rounds of declines, according to new figures released by freight payment processor Cass Information Systems.
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New U.S. Transportation Department figures show the amount of for-hire freight rose 1.6% in July from June, the fourth consecutive monthly gain and a new record high.
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While a recovery for freight and the overall U.S. economy is in the cards for the fourth quarter of the year, those attending the first sessions of the FTR Transportation Conference in Indianapolis on Wednesday were also told by experts they should not expect a huge boom.
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