Transportation Intelligence Firm Starts to Push Freight Forecast Down - The Trucking Boom May be Over
The End of A Trucking Boom
If you have been reading the blog here at Trucker to Trucker, you know that we are in the midst of a serious trucking boom. In fact, according to Freight Transportation Intelligence, or FTR for short, trucking is actually growing faster than the economy, and it's growing so fast that, they also believe there may soon be a downturn within the industry.
Just the Facts
FTR compiled facts are this. Most sectors of growth last about 5 years before the overall economy recesses. When the economy slumps, so do the businesses that support it, and one of those key businesses is the trucking industry. Essentially, the economy has been growing for the past 6-plus years, so at some point, it is going to stop. And supposedly, when that happens, the trucking industry will begin to slump as well.
What This All Means
Of course, FTR can't predict a downturn, or a recession as it is also called, and in truth, there is no real forecast anywhere predicting one either. Certainly, facts and figures are pointing to the reality that, at some point, the economy will turn and with that turn, the trucking boom may be over.
But as of this moment, there are no hard facts to predict this situation, but it can theoretically be safely presumed that sometime, within the next 5 years or so, the economy will be affected and so will the trucking business.
Get 'Em While They're Hot
No one has ever believed that the trucking industry would grow infinitely, no business ever did. But right now the trucking boom is in full swing, there are jobs out there if you want them, and as hot dog vendors at stadiums across the country yell, "Get 'em while they're hot."
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