Economy

Government, Business

Economy Is Improving, but Challenges Remain, Economists Say

Trucks at Kroger distribution center Trucking companies that transport agriculture products will likely see an increase in business. (Luke Sharrett/Bloomberg News)

The U.S. economy is poised for a strong recovery in the third quarter, provided the number of people being given the COVID-19 vaccine significantly improves and Congress and the White House reach a COVID relief package.

Dan Ronan | Associate News Editor
February 11, 2021
Government, Business

CBO Projects 4.6% Growth, Jobs Lag in 2021

An empty storefront along East Carson Street in the Southside neighborhood of Pittsburgh. (Keith Srakocic/Associated Press) An empty storefront along East Carson Street in the Southside neighborhood of Pittsburgh. (Keith Srakocic/Associated Press)

The U.S. economy is projected to grow at a robust 4.6% annual rate this year, but employment isn’t expected to return to pre-pandemic levels until 2024, the Congressional Budget Office said Feb. 1.

Josh Boak | The Associated Press
February 1, 2021
Government, Business, Safety

COVID-19 Vaccine Key to Restoring Economic Stability, Experts Say

Colorado Gov. Jared Polis signs for FedEx vaccine delivery Colorado Gov. Jared Polis signs for delivery of the state's first shipment of Pfizer's COVID-19 vaccine Dec. 14, 2020. An estimated 36% of the 27.7 million doses distributed in the U.S. have been administered. (David Zalubowski/Associated Press)

The incoming Biden administration faces a U.S. economy that appears to be slowing as COVID-19 cases surge.

Dan Ronan | Associate News Editor
January 13, 2021
Government, Business

Majority of Business Economists Now See Full Recovery by End of 2021, Survey Says

Store Nattakorn Maneerat/Getty Images

The U.S. economy’s growth is likely slowing as 2020 comes to a close, but a growing number of economists expect it to claw back to its pre-pandemic strength by the second half of next year as vaccines for the coronavirus become widely distributed.

Stan Choe | Associated Press
December 7, 2020
Government, Business

Biden Plots Economic Recovery in Meeting With CEOs, Union Heads

President-elect Joe Biden addresses the media at the Queen Theater in Wilmington, Del., on Nov. 10. President-elect Joe Biden addresses the media at the Queen Theater in Wilmington, Del., on Nov. 10. (Joe Raedle/Getty Images)

President-elect Joe Biden met Nov. 16 with the chief executives of General Motors Co. and Microsoft Corp., as well as key labor leaders, as he begins to outline how to contain the coronavirus pandemic and revive the economy during his administration.

November 16, 2020
Government, Business, Logistics

Consumer Spending Rises in August

Shoppers outside Walmart Patrick T. Fallon/Bloomberg News

While the trucking industry’s financial health continues to excel, the overall U.S. economy is trying to gain momentum.

Dan Ronan | Associate News Editor
September 17, 2020
Government, Business

Trucking Fares Better Than Overall Economy, Experts Say

Trucks on highway Getty Images

The trucking and freight economy appears to be doing better than the overall U.S. economy as fleets adjust to contend with supply chain changes caused by the COVID-19 pandemic.

Dan Ronan | Associate News Editor
August 12, 2020
Government, Business

Q2 GDP Drops a Record 32.9%, but Trucking Holding Steady

Trucks on an interstate highway American Trucking Associations Chief Economist Bob Costello said trucking is holding its own during these tough times. (Doug Berry/Getty Images)

The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.

Dan Ronan | Associate News Editor
July 30, 2020
Government, Business

Economic Recovery Threatened by COVID-19 Resurgence, Experts Say

Trucks on the highway Trucks on California state Route 905 in San Diego. (John Sommers II for Transport Topics)

The U.S. economy, which had begun to improve, is now in jeopardy of stalling amid rising cases of COVID-19 infections.

Dan Ronan | Associate News Editor
July 15, 2020
Government, Business

Watch Replay of Newsmakers Series

Replay of TT Newsmakers

Sign up to watch replays of our previous webcasts with American Trucking Associations Chief Economist Bob Costello and Nikola founder and executive chairman Trevor Milton.

July 15, 2020

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