The trucking industry is on the rebound – at least to a degree – according to analysts at the U.S. Department of Transportation.
DOT spokesman Dave Smallen said the DOT’s index of how much freight is being moved around the country increased 1.3 percent in March. And while that doesn’t sound like much of a jump, Smallen said it could be significant.
“Generally, what that would indicate is that the freight sector seems to be turning around,” Smallen told “Land Line Now” on XM Satellite Radio.
“It has been generally trending down. It reached a peak in our index in January 2005 and it’s still 3.3 percent below that peak, but the March rise of that size indicates that there might be a turnaround taking place.”
Meanwhile, some analysts who look at the nation’s entire economy – not just the trucking sector – say they see a turnaround, too. According to a survey of 60 economists by the Wall Street Journal, improved growth is predicted this year by a five-to-one margin.
– By Reed Black, staff writer