Reported 1 day ago
Freight data reveals a significant downturn in the U.S. goods economy, indicating a recession primarily affecting the trucking and freight sectors. Despite stable consumer spending on services, freight volumes have plummeted, with long-haul trucking down 30% year-over-year. Manufacturing output has stalled, and high interest rates are tightening consumer spending. While some local freight volumes remain steady, the overall trend signals a potential prolonged economic downturn, exacerbated by ongoing overcapacity and a slowing velocity of money in the economy.
Source: YAHOO