ATA’s Costello: Q2 will be brutal

From Transport Topics.

The U.S. gross domestic product will decline by more than 20% on an annualized basis in the second quarter as a result of the coronavirus and the economic shutdown, American Trucking Associations’ chief economist forecasts.

“We will never have experienced — since they began making quarterly GDP numbers — the number that is about to hit us for the second quarter,” Bob Costello told Transport Topics. “I’m not a doctor, I’m not a health expert, so what makes this difficult for people like me is what I can’t tell you: When is this going to end?”

If you’re expecting normal to be something like it was before March 11 when most of the nation shut down, Costello said that won’t happen soon.

See the complete article from Transport Topics online.