Specs of light in US freight economy?

ARLINGTON, Va. — Recent changes in a few economic indicators point to better days ahead for the U.S. economy and for the trucking industry, says the the American Trucking Associations.

ATA’s Chief Economist Bob Costello pointed out in his Weekly Economic Recap that the real gross domestic product gained an annualized rate of 5.7 percent during the fourth quarter of 2009. This is better than analysts’ forecast of 4.7 percent and ATA’s forecast of 5.1 percent.

"Still, we believe that the fourth quarter will be the outlier and that GDP will come down to earth starting this quarter, growing 2.5 percent, and remain at or below that level for the rest of the year," Costello stated.

In the Bureau of Economic Analysis’ GDP report, there was a 2 percent boost in personal consumption, a 28.1 percent increase in exported goods, and 13.3 percent growth in business investment on equipment and software. According to the ATA, 3.4 percentage points of the growth in GDP came from a smaller decrease in inventories.

Consumer confidence was also up in January, and new manufacturing orders for durable goods, which are products with a useable life of at least three years, gained 0.3 percent in December. 


Have your say


This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.

*