Transportation Economy News Updates

WASHINGTON — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said.

The trucking industry stumbled through the first quarter amid a slowing economy and high inventories, according to experts.

A gauge of manufacturing improved for the first time in six months, though activity remained in contraction territory amid fragile demand and growing inflationary pressures.

ORLANDO, Fla. — The U.S. economy is poised for a short and shallow recession during the second half of the year, but circumstances specific to current economic conditions make predictions more challenging than usual, said American Trucking Associations Chief Economist Bob Costello.

WASHINGTON — The Federal Reserve’s preferred inflation gauge rose in January at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy.

Motor carriers experienced a financial slowdown in the final months of 2022, as trends that indicate a return to normalized levels of business for the year ahead took hold, industry analysts said.

U.S. business activity steadied in February as the service sector regained its footing, suggesting a resilient economy that is keeping some pricing power intact.

WASHINGTON — America’s consumers rebounded in January from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years.

Even with a stronger-than-expected 2.9% fourth quarter increase in gross domestic product, two  prominent freight transportation economists say the threat of a recession will persist this year.

U.S. business activity contracted for a seventh month, though at a more moderate pace, while a measure of input prices firmed in a sign of lingering inflationary pressures.