Freight shipments dropped the most since Nov 2009.
“When times are tough, the thinking switches to the short-term. Many fleets are just fighting for survival.”
Weakness in transportation deepens. Freight rates still rising, but also coming under pressure.
A hard U-Turn.
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.