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The second quarter earnings season got underway on Monday with Daimler AG unexpectedly releasing numbers showing its adjusted earnings in the second quarter of the year are “significantly above market expectations” – but the news did not carry over into its truck operations.
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While U.S. non-farm payrolls swelled by 287,000 jobs in June, the most since October, the number of trucking jobs fell for the fifth straight month, according to a new U.S. Labor Department report.
Read More →Two reports show the nation’s manufacturing sector is making continued improvements following a bumpy ride that began last year and early this year.
Read More →One of the biggest drivers of the U.S. economy increased for the second straight month in May, adding to optimism that growth in the second quarter will be better than the slow first quarter pace.
Read More →U.S. economic growth improved more than previous estimates, but not by much, according to Commerce Department figures released Tuesday. Stronger net exports and business investment offset an unexpected downward revision to consumer spending.
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Trailer orders fell nearly 14% month over month in May, coming close to earlier projections for a seasonal slowdown.
Read More →Orders and shipments of long-lasting durable goods fell in May, according to a preliminary Commerce Department report. One measure of business investment fell by the most in three months, but other reports show homes and consumers remain a cornerstone of the economy.
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Trucks carried more U.S. freight by value between North American Free Trade Agreement partners Canada and Mexico in April 2016 compared to the same time a year ago, but declines in all other freight modes led to a 3.2% drop in the total current dollar value of cross-border freight.
Read More →The nation’s manufacturing is continuing to show signs of renewed life following a downturn, while separate reports show overall moderate economic growth with existing home sales booming.
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Covenant Transportation Group Inc. has lowered expectations for its second quarter earnings report due to the current freight market as well as internal issues it’s facing.
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