{"id":4888,"date":"2012-08-24T22:21:17","date_gmt":"2012-08-24T22:21:17","guid":{"rendered":"http:\/\/findfreightloads.com\/blog\/?p=4888"},"modified":"2012-08-24T22:21:17","modified_gmt":"2012-08-24T22:21:17","slug":"trucking-rebound-outpaces-economy","status":"publish","type":"post","link":"https:\/\/findfreightloads.com\/blog\/trucking-rebound-outpaces-economy\/","title":{"rendered":"Trucking rebound outpaces Economy"},"content":{"rendered":"<p><a href=\"http:\/\/freightbrokerscourse.com\/\">Trucking <\/a>has recovered from the recession much better than the economy at large, but the rebound slowed in recent months, economist Jim Meil said. Various domestic and global trends cast doubt on what\u2019s next.Meil, vice president and chief economist for Eaton Corp., addressed the Commercial <a href=\"http:\/\/dacoff.com\/\">Vehicle <\/a>Outlook Conference in Dallas today.A former professor, Meil rated the state of trucking a B+. That\u2019s largely due to a rebound in U.S. manufacturing (B) and non-defense capital spending (A-). He said other recovering domestic sectors are mining and residential and commercial construction.<\/p>\n<p>Truck freight should grow 3 percent this year and in 2013, though the gross domestic product will see only 2 percent growth in those years. \u201cThat\u2019s the fourth year of lackluster growth after the worst post-war recession,\u201d Meil said.During the recession, there was an estimated surplus of 175,000 Class 8 trucks, Meil said. Now there is a slight shortage. That\u2019s good for carriers in terms of keeping their utilization rates and pricing high. Trucking has lost some business to rail intermodal due to the capacity crunch.<\/p>\n<p>Class 8 orders were strong in the first quarter, \u201cthen the bottom dropped out,\u201d he said. \u201cNow we\u2019re in the fourth month of a slowdown in orders.\u201dThe cause isn\u2019t obvious, but might be related to high levels of uncertainty among buyers. They are likely concerned about the economic impact of the election and how the fiscal cliff crisis \u2013 mandated spending cuts for January 2013 \u2013 is handled.<\/p>\n<p>\u201cNobody really believes all these tax increases or spend cuts will take place,\u201d Meil said. But even if only some do, it will present a \u201cpretty significant fiscal challenge for the economy to overcome.\u201dOther uncertainty involves problems with the global economy, he said. Europe \u201cis definitely in a recession,\u201d and China, India and Brazil are not living up to expectations of being dominant economic powers.CVOC was sponsored by Bridgestone, Castrol Heavy Duty lubricants, Chevron, Espar Heater Systems, <a href=\"http:\/\/truckerhunt.com\/\">Freightliner <\/a>Trucks, Kenworth, Paccar Engine, Peterbilt, TRP and Valvoline.<\/p>\n<p>Looking for Loads to Haul?<a href=\"http:\/\/www.findfreightloads.com\/\">http:\/\/www.findfreightloads.com\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trucking has recovered from the recession much better than the economy at large, but the rebound slowed in recent months, economist Jim Meil said. Various domestic and global trends cast doubt on what\u2019s next.Meil, vice president and chief economist for Eaton Corp., addressed the Commercial Vehicle Outlook Conference in Dallas today.A former professor, Meil rated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,3],"tags":[],"_links":{"self":[{"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/posts\/4888"}],"collection":[{"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/comments?post=4888"}],"version-history":[{"count":2,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/posts\/4888\/revisions"}],"predecessor-version":[{"id":4891,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/posts\/4888\/revisions\/4891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/media\/4889"}],"wp:attachment":[{"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/media?parent=4888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/categories?post=4888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/findfreightloads.com\/blog\/wp-json\/wp\/v2\/tags?post=4888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}