But freight rates remain red hot.
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Majestic sight: 292 Union Pacific engines idled in Arizona Desert.
Hope came unglued all over again.
Largest US Trucking Company: “Volume, or lack thereof, is obviously the main story.” The inventory pile-up hurts. And the driver shortage is ending.
From “capacity panic” to “overcapacity” in less than a year?
The services sector better hang in there.
Another Gauge of the Goods-Based Economy Heads South.
Something has to give.
So that U-turn was fast, even for the legendarily cyclical trucking business.
This is a very cyclical business.