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State of the Economy


State of the Economy

  04:42:25 pm, Categories: economy , Tags: economy improving

It's been a tough year to stay optimistic in the trucking industry. However it sure beats the alternative!
Finally in the last couple of months we have had some positive signs that go beyond the “positive thinking” aspect that sometimes leaves you feeling like Dorothy clicking the heels of her red shoes wishing to go home.

The Commerce Department said orders for durable goods rose 1.8% in April, and another 1.8% in May.

While shipments continued a 10 month decline the longest on record (since 1992) the increase in orders is a good sign that while we are not out of the woods yet there are signs that shipments will start to pick up. The US Census Bureau in April stated inventories had been decreasing for six consecutive months , and that shipments had continued to slide. The combination of lower inventories, months of declining shipments, and two months of increased orders would indicate that there should be increased shipments soon.

It's not just the US that is showing signs of improvement either, Bloomberg reports that Germany's “manufacturing orders jumped the most in almost two years in May”. Also the World Bank upgraded its forecast for China's economy this year. Bloomberg also reported that Chinese manufacturing orders were starting to recover in April. While the recovery was not based on US exports it is a good sign.

Back in the US NPR reported that housing starts, and building reports jumped in June 3.6 percent. Also applications for building permits rose 8.7 percent in June. That has to be good news for flatbed trucking operations!

Not all the reports are positive for sure. For instance, Reuters published an interesting article stating in part that the Philadelphia Federal Reserve had lowered it's index of factory conditions in July after raising it in June. Over all the article ends up with a mixed bag of negative and positive measurements of the economy almost begrudgingly admitting that there might be a recovery in the works.

As we all know everything we use, wear or eat etc. came to us via truck. So any improvement in any segment of our economy is a great thing for trucking. We'll keep seeking out positive economic reports to post here on our Trucking Industry Blog. Please do not be shy about posting your own good economic stories here as well!

As we wrote on this blog at the beginning of the year, the best time to prepare for good times is during the slow times. If you do not already have good trucking software, freight brokerage software, or logistics software, this is the time to call TruckMaster. We can custom fit a solution for your company, and get your staff trained and ready for the coming recovery. Then you will be able to have everyone focused on maximizing the profits of your company taking full advantage of all the opportunities.

Call us today for a free demonstration.

Kurtis Brown
TruckMaster Solution Provider
TruckMaster Your Trucking Company

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