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The sudden, devastating economic collapse caused by the COVID-19 pandemic was so unprecedented, that even seasoned economists admit it’s difficult to predict what the recovery will look like.
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Nobody wants a recession. That said, the time to prepare your business for the possibility of a recession is now.
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First-quarter 2019 GDP grew at 3.2%, and the latest guess about the second quarter is 1.7%. That latter number is a disappointment for sure, but it is not a negative, says longtime trucking economic analyst Noel Perry. But what about freight?
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FTR’s August Trucking Conditions Index found that although there was some drop off in activity from the previous month, the business environment for fleets remains generally favorable.
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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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One day the Federal Reserve will raise interest rates – perhaps as early as this fall. But what will this mean for trucking?
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