The U.S. trucking economy is weak, and there probably won’t be any marked improvement until late 2009, according to analysts at Standard & Poor.
Overcapacity, poor pricing and soaring fuel costs are expected to plague the industry through at least next year.
In a report titled “An Uphill Climb for U.S. Trucking Companies,” the S&P analysts say consumers aren’t spending as much as in the past – and that translates directly into less freight for truckers.
Economists say that two-thirds of the nation’s economic activity is generated by consumer spending. The S&P analysts stated in their report that they think consumer spending will increase only half as much this year as it did in 2007.