US truckers and trucking companies are warning we’re in the middle of a freight recession worse than the 2008 crisis. As retail sales drop, and both manufacturing and import activity continue to slow down due to lower consumer demand in 2023, the road transportation industry is seeing orders being cut in half, leading to falling cargo volumes all across the country.
The collapse was the word used by one industry CEO to define what just happened to freight rates, and that is putting several trucking companies at serious risk of bankruptcy. But according to Western States Trucking Association, the ongoing downturn in the freight market is only a sign something far more distressing is about to break out in America. Top 3 Threats To Retirement Today
When the health crisis locked people at home and Americans started to order more goods online, the freight market boomed, and rates […]
Excerpt Sourced From: conservativeplaybook.com
