LAS VEGAS, NV – The U.S. government itself shut down over the weekend, but the overall economy of Canada’s largest trading partner seems to be in good shape.
The country’s Gross Domestic Product expanded by 2.3% over the past year. “This is, all in all, a decent number but not an impressive number,” said Bill Strauss, senior economist and economic advisor with the Chicago Federal Reserve. Annual growth experienced in the 1990s was closer to 3-4%.
But steady growth like this can be good news, easing the concern about a market correction, he told a crowd at the Heavy Duty Dialogue in Las Vegas.
The country is in the midst of its third-longest expansion in history, now in its ninth year.
BLOOMINGTON, IN – Conditions remained strong in November despite a decline from the month before say analysts at FTR Intelligence.
The group’s monthly index measured a month-over-month decline to a level it calls more sustainable after extreme weather and tight labor conditions caused a short-term spike in October.
TORONTO, ON – Canadian freight volumes closed out 2017 in record-breaking fashion reports TransCore Link Logistics.
The company says Canadian and cross-border freight volumes saw unprecedented growth in the last quarter of the year. Volumes were up by 51% year-over-year, and 9% compared to the previous quarter.
BLOOMINGTON, IN – FTR Intelligence is predicting the strong start for trucking in 2018 will continue, leaving fleets to get creative when solving the problems created by a market already at capacity.
Avery Vise, vice president trucking research, says although fuel rates leveled in the first week of the new year, they aren’t expected to drop dramatically in the near future, contributing to record-level spot rates and rising contract rates he expects will peak and then fall sometime in late 2018 or early 2019, but will still remain high.
The reefer market was also up in the first week of 2018, with a polar vortex creating an increased need for temperature-controlled transport to keep products from freezing.
ARLINGTON, VA – The September for-hire trucking market gave back some of the tonnage gains made in the previous month, according to American Trucking Associations’ (ATA) Advanced Seasonally Adjusted For-Hire Truck Tonnage Index.
Tonnage slipped 0.9% in September when compared with August, however it was still up 7.4% year over year. The ATA says year-to-date, compared with the same nine months in 2016, tonnage is up 2.4%.
ORLANDO, FL – Mack secured a spot in the market for linehaul trucks through the recent release of its Anthem tractor, and the company believes the overall market for such trucks is also on the rise.
BLOOMINGTON, IN – FTR Intelligence expects the economy to slow down before the end of the year, matching slower freight growth.
The company reported improvements to shipping conditions in June over the previous month, but warns that slow contract pricing increases, and a modest weakening of the expected regulatory environment, will mean slower growth and fairly moderate conditions in the short-term.
BLOOMINGTON, IN – Trucking was costlier in June, compared to the month before, according to FTR Transportation Intelligence.
The industry forecasting website said June saw costs for labor, fuel, and purchased transport increase over those in May.
ARLINGTON, VA – The American Trucking Associations (ATA) is projecting U.S. freight volumes to grow 2.8% this year, followed by 3.4% annual growth through 2023 – a trend that could lead to potential capacity shortages.
WINSTON-SALEM, NC – The market for Class 8 trucks continues to transform, with long haul units accounting for a shrinking share of sales, but Volvo Trucks North America is facing the shift head on with its new VNR regional tractors.
OKOTOKS, AB – Revenues are still lower than peak levels, but Mullen Group chairman and Chief Executive Officer Murray K Mullen is reporting a “sense of optimism” in the oil and gas sector — and he expects the good news to continue in the second half of 2017.
BLOOMINGTON, IN – Analysts at FTR are predicting U.S. freight volumes will grow this year, but say rates will likely be stagnant for at least six months.
BLOOMINGTON, IN – Analysts at FTR are reporting a tighter freight capacity for shippers this year, but believe that “regulatory drag” will likely be slowed under the Trump Administration and a Republican-controlled US Congress.
BLOOMINGTON, IN – Trailer orders in the U.S. reached 32,800 units in January – down 4% month over month, but up 86% year over year, FTR reports.
OKOTOKS, AB – Mullen Group CEO Murray Mullen is “happy to close the books” on 2016, and predicting a return to growth after two years of steady declines.