Transportation Economy News Updates

Economists and other experts who watch the U.S. economy on a minute-by-minute basis are now suggesting, some loudly, that the nation is lurching towards a recession, as the coronavirus damages the economy.

NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange.

WASHINGTON — The number of Americans filing new claims for unemployment insurance fell last week for a second straight week, an indication that the coronavirus had not yet hit the labor market in a major way.

WASHINGTON — U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs.

WASHINGTON — U.S. businesses added 183,000 jobs last month, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread farther around the globe.

WASHINGTON — Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects.

Economists who closely follow the transportation and trucking industry say the next month will be critical as to whether the economy avoids a recession in 2020 as concerns over the spread of the coronavirus mount.

AURORA, Colo. — It is unlikely in 2020 both the U.S. economy and the trucking industry will soar to the levels they did in 2018, but that doesn’t mean the year won’t see adequate growth to continue the expansive economic recovery, according to ATA Chief Economist Bob Costello.

U.S. small businesses found it a little easier to fill jobs in December, consistent with a moderating, yet still-robust, labor market, National Federation of Independent Business data showed Jan. 9.