If the investment bankers at Goldman-Sachs know what they’re talking about, the worst may be over – or at least nearly over – in terms of declining trucking volume.
The brokerage has raised the U.S. trucking sector from “cautious” to “attractive.” Bloomberg reports that Goldman-Sachs is telling its customers this is a good time to buy stock in truck companies.
Its analysts say the volume of truck shipments typically falls before a recession. “But truck freight demand rarely declines for more than 13 months in a row,” the brokerage noted.
Once a recession actually begins, the truck freight demand stabilizes, and Goldman-Sachs believes truck freight demand will stabilize this year.