Things are starting to look up for the trucking industry, according to the American Trucking Associations (ATA). The ATA recently released its report on the future of the freight industry, the ATA U.S. Freight Transportation Forecast to 2021. In all areas of the freight industry, there exists a silver lining as the economy emerges from recession, and freight is projected to grow. The ATA projects trucking, in particular, to grow from 68 percent to 70.7 percent by 2021.
In the near future, experts indicate recuperation for the trucking industry as the manufacturing industry restocks its supply of goods. The Institute for Supply Management released their April 2010 Manufacturing ISM Report On Business®on May 3rd, which shows excellent growth for the manufacturing industry as well. Among the statistics, the Purchasing Managers Index shows 60.4% as of April, and the New Orders Index averaged 61.6% for the last 10 months. Employment within the manufacturing industry is also showing steady growth.
Consumer confidence has been wavering as of late; however, according to the Consumer Confidence Index put out by Market Harmonics, consumer confidence is projected to rise. This steady increase in consumer confidence, along with a steady supply of goods and services, will spur demand and, in turn, increase dependence on the trucking industry. All signs are pointing toward to gradual recovery from recession and an optimistic outlook for the trucking industry.
