Transportation Economy News Updates

Transportation and warehousing will be among the fastest-growing economic sectors for the coming decade, according to a new U.S. Bureau of Labor Statistics analysis.

WASHINGTON — The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied rising interest rates to spend at a brisk pace.

The second quarter of 2023 has revealed a potentially bleaker outlook for the freight market, almost reaching numbers of the freight recession witnessed in 2019. Discover the secrets behind success as we explore how freight brokers should navigate the uncertainty of a down market.

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The nation’s employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed.

Higher interest rates are expected to slow inflation and the U.S. economy during the remainder of 2023 and into 2024, before the Federal Reserve reverses course and cuts interest rates.

The economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs, the government said Aug. 30.

A strong majority of business economists now say odds of the U.S. entering a recession in the next 12 months are 50% or less, according to a National Association for Business Economics survey.

Showing resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years.

By the end of last year, many economists forecasted a 50-50 chance of a recession in the U.S. and abroad in 2023. What is the state of the U.S. economy today?