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Despite a booming construction sector, the latest reports on jobs and manufacturing have some concerned that the U.S. economy is losing some of its steam.
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After a strong end to 2014 and early 2015, the truck market has softened. With several unknown factors like regulations and fluctuating economic conditions, it looks like this trend may continue for a while.
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Private sector employment increased by 200,000 jobs from August to September, according to a new report from the payroll processor ADP, but manufacturing lost jobs.
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At least one economist is feeling good about the U.S. economy. Speaking at the 53rd ACT Research seminar Tuesday, Augustine Faucher, senior economist for PNC Financial Services Group, told the audience that the market “continues to look good for U.S. produced goods.”
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The value of freight moved between the U.S. and its next door neighbors Canada and Mexico totaled $93 billion in July 2015. All modes except air carried less freight than in July 2014.
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Consumers are feeling better than they were before and are spending more money because they are taking home larger paychecks, according two new reports. That bodes well for truck freight.
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Swift Transportation has lowered projections for profits for the final two quarters of the year and for the full year, due in large part to at least one accident, legal claims and expected lower freight volume.
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The U.S. economy performed better in the second quarter of the year than earlier thought, according to a new Commerce Department report Friday, leaving some wondering if this puts the Federal Reserve closer to raising interest rates.
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Economic watchers got a mixed bag of reports on Thursday. One showed an easing in part of the manufacturing sector, including a measure of business investment. However, two others were upbeat regarding housing and the upcoming holiday sales season.
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September marks another month of relatively subdued growth across the U.S. manufacturing sector, according to a preliminary report, and construction activity in the U.S. retreated in August.
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