While Barack Obama’s administration and Democrats on Capitol Hill continue working on an economic stimulus package to begin to correct the economic catastrophe they inherited … I continue seeing reports like these on the depth and breath of the recession …
“Motor carrier freight is a reflection of the tangible-goods economy, and December’s numbers leave no doubt that the United States is in the worst recession in decades,” said ATA Chief Economist Bob Costello in a statement.
“With consumer demand falling, inventories are getting stretched out and new orders delayed, and that means lower shipping volumes, which ripples right through the trucking industry,” said a trucking industry executive whom declined to be identified.
“Many shippers have begun looking seriously at carrier financial stability. They can’t afford to lose even one customer to a service failure, so reliability is more important today than it has ever been.”