In The News
S&P bearish on the trucking industry for the rest of 2008
The U.S. trucking economy is weak, and there probably won’t be any marked improvement until late 2009, according to analysts at Standard & Poor.
Overcapacity, poor pricing and soaring fuel costs are expected to plague the industry through at least next year.
In a report titled “An Uphill Climb for U.S. Trucking Companies,†the S&P analysts say consumers aren’t spending as much as in the past – and that translates directly into less freight for truckers.
Economists say that two-thirds of the nation’s economic activity is generated by consumer spending. The S&P analysts stated in their report that they think consumer spending will increase only half as much this year as it did in 2007.