#2019 generally was not a great year for #trucking. The number of loads posted on DAT is up year-on-year, yet #truckingrates are down. #Bankruptcies are up 3x from the previous year, to 640. While most are smaller (<10 trucks) operations, 7 major #carrier (>100 trucks, 6,657 drivers total) bankruptcies underscore the difficulties in the market. Check out Business Insider\’s article for more details. The downward trend on rates, combined with rising insurance costs, fuel, nuclear-verdict lawsuits, and other factors (Celadon included).
Outlook for #2020 is mostly pessimistic, with a few bright spots. The #PMI, which measures #manufacturing activity, has been below 50 (contraction) for 5 consecutive months, with the December 47.2 number at its lowest level in ten years. Other important indicators have also been trending down for the 5 month period. For a more in-depth look, check out this Logistics Management article- Manufacturing finishes 2019 on a decline, reports ISM.
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