Decline in demand to affect trucking freight, economists say

From Transport Topics.

The upcoming retail holiday season is likely to see slower sales below the surging pace of 2021 as the U.S. economy’s pace of growth slows to a much lower level, which will have an impact on the amount of freight shipped by trucking.

Also impacting the transportation field is the shift to a more balanced economy, with the service side seeing an uptick in spending and a decline in the once-red-hot goods side as consumers return to more traditional spending patterns.

“Demand is falling away and, finally, we’re to the point where consumer expenditures on imports are slowing,” Paul Bingham, director of transportation consulting at S&P Global Market Intelligence, told Transport Topics. “The capacity that has been deployed is down to the point that is necessary and can handle the amount of volume that is being shipped, and it’s only September.”

See the complete article from Transport Topics online.