The American Trucking Associations expects truck tonnage will grow from 11.3 billion tons this year to 12.2 billion tons by 2034.
If the pandemic-triggered boom times were the party, what we’ve been experiencing for the past year is the hangover, said Bob Costello, American Trucking Associations chief economist, in a session at ATA’s management conference in Austin this week.
FTR looks at key economic and trucking industry indicators and offers an outlook for freight transportation in 2023.
Mack’s Jonathan Randall says the foreseeable future looks bright for truck makers, despite some less-than-optimistic economic indicators.
Economic growth and freight rates are expected to remain solid well into 2022, according to transportation analysis firm FTR, but the struggle to find drivers is expected to continue to plague the industry.
“2021 will be a story of contending tailwinds and headwinds,” says U.S. Xpress in a blog post about its 2021 Economic Forecast. See what key trends the truckload carrier's analysts expect this year.
FTR is reporting that its Trucking Conditions Index for October 2020 literally went off the charts to the highest reading the research firm has ever recorded.
With a severe driver shortage and a supply chain still in chaos from pandemic-induced shifts in consumer behavior, one industry observer is warning of likely hoarding as we get into the holidays. Longer term, vaccine distribution is “THE driver” for broader economy recovery and the post-2021 outlook.
Although the economic recovery from the COVID-19 shutdown is definitely not a “V” shape, it’s growing steadily – but don’t expect to be back where we were until mid-2022, said Jeffrey Rosensweig of Emory University.
Improvements in industrial production and housing may help drive a truck freight recovery, but spikes in COVID-19 cases in many parts of the country and questions about what Congress may or may not do leave a lot of uncertainty in the forecast, according to analysts at FTR.
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