Trucking industry reports moderate growth
Trucking industry reports moderate growth
Created: Thursday, May 31st, 2012 08:01 am
The American Trucking Associations' For-Hire Truck Tonnage Index recently increased 0.2 percent in March, and 2.7 percent over the previous year. The results indicate moderate growth in the trucking industry, as new fleet management tactics and new technologies are helping boost the sector despite a volatile economic climate.
Bob Costello, ATA chief economist, said the trucking industry should expect continued growth through the end of 2012, not on par with the drastic growth reported in 2011, but strong numbers nonetheless.
"Expect tonnage overall this year to be up at a more moderate rate, perhaps less than 3 percent, which is more in-line with normal growth," Costello said.
Analysts with Avondale Partners recently announced in a new report that many trucking companies that survived the recession are in a position to make significant profits in the upcoming years. There were fewer trucking companies reported failing in the first quarter of 2012 compared to the same quarter in years past. The report highlighted the ways successful trucking companies are implementing driver retention and competitive compensation programs to engage current and prospective employees while reshaping the industry, Land Line Magazine reported.
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