Loading ...Layoffs And Bankruptcies Pile Up In Logistics Amid Shocking Downturn
The following synopses are some of the articles that FreightWaves has published in the past year that illustrate the poor freight economy.
https://www.zerohedge.com/economics/layoffs-and-bankruptcies-pile-logistics-amid-shocking-downturn
No doubt that the U.S. economy has slowed a bit over the last year or so.
And yes, declining freight volumes are a telltale sign of economic contraction.
However, I think that the decline is exaggerated in the article, using anecdotal evidence.
If you look at the indexed chart of freight volumes (see link) going back to January 2000, the modest downturn in the freight volume is apparent.
However, the wheels are not falling off the cart just yet. I mean, it is not the end of the world as we know it.
The index peaked at 120.6 in August 2019, bottomed at 106.4 in April 2020, and was reported to be 115.5 in August 2023.
My assumption here is that these numbers tracked by the St. Louis Fed are accurate and not fabricated.
https://fred.stlouisfed.org/series/TRUCKD11