Here at Freight Checkers, we are committed to keeping those in the transportation industry, particularly carriers, alert, updated, and in the know. This includes services such as our rating and monitoring platform, which reviews freight brokers, shippers, receivers, diesel mechanic shops and even truck stops. In addition to this, from time to time on our blog, we like to provide relevant news and updates related to the transportation industry to our visitors- which we’ll be doing today! To learn more, keep reading below, or to get in touch with us at Freight Checkers, just call us at 662-932-3775 or submit a contact form here.
At A Glance
In the recent past on our blog, we’ve talked about how hard the COVID-19 pandemic affected the trucking industry, leading it down a path of uncertainty and volatility. As it turns out, such negative trends have continued, prompting many to brand the current state of trucking as troubled, especially in an economic sense.
“Consumer spending is cooling, and there are pockets of weakness, such as housing, that are weighing down cargo volume.”, reported Thomas Black of The Washington Post, “United Parcel Service Inc.’s average daily package volume in the US fell 1.5% in the third quarter from a year earlier and is likely to decline even more in the fourth quarter.” With the volume of transactions dwindling, many truckers anticipate a gloomy economic forecast for the time being.
The Season Ahead
WIth current affairs in the trucking industry look uncertain, many look to the upcoming holiday season, which even doesn’t show its expected signs of promise, according to leading voices in trucking & transportation. In fact, industry insiders predict lower sales activity due to the fact that warehouses are already well-stocked and “those goods aren’t moving off shelves rapidly” (Black 1).
A Rise in Cargo
Despite other sectors fallling behind, freight and cargo have shown signs of strength and resilience. According to the American Trucking Associations, “cargo tonnage […] rose 5.5% in September from a year ago, reaching the highest level since August 2019”. (Black 1). This evident growth can be attributed to budding infrastructure projects, and an increase in oil drilling here in the United States.
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