Steady growth continues for the economy and the trucking industry.
According to a recent report in Transport Topics, analysts say both the trucking industry and the economy are making slow, steady progress that’s expected to continue through 2014. Mark Vitner, chief economist at Wells Fargo, predicts that the United States’ GDP will grow by 2.4% in 2014. That’s 0.2% greater than the projected rate for the end of this year.
Bob Costello, chief economist at the American Trucking Association, says that trucking companies should see an uptick in overall demand for freight once economic growth passes the 3% mark.
The old saying “If you bought it, a truck brought it” sums up the relationship between the economy and our industry pretty nicely. Good news for trucking means good news for all of us.