recession News Updates

“Trucking is now in the longest and deepest freight down cycle since the 2007 global financial crisis,” said C.H. Robinson's Michael Castagnetto. ATA data shows tonnage climbing slowly.

Transportation companies that serve as a bellwether for the American economy sent up a smoke signal last week.

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.

“Diesel demand can act as a leading indicator for broader growth as an early sign that spending by households is waning,” said one expert.

SAN DIEGO — American Trucking Associations Chief Economist Bob Costello said Oct. 25 the trucking industry should be fairly well insulated from a potential recession in 2023.

The U.S. economy fell into a recession in February, a group of economists with the National Bureau of Economic Research said June 8, and some within the trucking industry are not predicting a rapid return to pre-pandemic levels.

WASHINGTON — The U.S. economy entered a recession in February as the coronavirus struck the nation, a group of economists declared June 8.

In the wake of the global pandemic, technology is being used to keep drivers safe, facilitate remote work, and drive efficiency gains so that companies are in a good position to survive the coming recession and thrive in the recovery to follow.

The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized.

Jitters and trade wars are roiling the markets and troubling freight companies, but the big question is if the U.S. economic expansion may be coming to a close soon.