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.
But freight rates remain red hot.
For the majority, pay has remained flat or has fallen over the past year.
This is a very cyclical business.
But no letup in freight rates yet.