FTR Freight Conference Provides Subdued Outlook

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INDIANAPOLIS, Ind. –Despite reports that the Canadian economy is bouncing back quicker than expected, it may be a long road back to prosperity for the US trucking industry, according to speakers at FTR Associates’ annual Freight Transportation Conference.

The two-day conference, held Aug. 25-27, featured speakers from the Federal Reserve, Wall Street, freight carriers, shippers, suppliers and consultants as well as FTR itself. Highlights included: the US recovery will be slowed by subdued consumer spending, leading to continued high unemployment and slow growth for freight volumes; the US is currently at the bottom of its steepest freight decline since 1980-1982, with freight down 15% from the previous peak; it’ll be a buyer’s market for freight transportation services in the near-term, as depressed volumes and excess capacity continue to rule, putting continued pressure on carrier margins; high levels of excess capacity will continue, as US banks are still reluctant to foreclose on heavily-discounted assets from near-bankrupt carriers; and carriers may not reach “equilibrium” until 2011.

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