Fed sees weak transportation activity

| 12/4/2008

The Federal Reserve Bank reported on Wednesday, Dec. 3, that the trucking business is expected to remain in a slump for at least the first three months of 2009.

In its so-called “beige book” report, the Fed says freight volumes have seen a slowdown because of fewer shipments of housing, auto, steel and consumer products.

Overall economic activity weakened across all Federal Reserve districts since the previous report.