LAS VEGAS, Nev. -- US freight volumes will likely go "sideways" over the next few months as the US economy suffers through a slowdown, according to American Trucking Associations chief economist Bob Costello.
"As far as freight volumes go, the trucking economy is pretty mixed right now," Costello said during the "All Eyes on the Economy" panel at ATA's annual conference. "Some groups, like tank truck and flatbed are doing very well, while conversely you have other areas like dry van that are underperforming.
Gregory Daco, senior economist with IHS Global, said he expects the US GDP to grow 2.1% this year and to slow to 1.8% in 2013 as the economic recovery is dampened by an expected slowdown in Chinese economic growth and continued recession in Europe.
"The economic outlook is good but not great," Daco said. "The US is the best looking horse in the glue factory."