Trucking Downturn: Signs of Recovery, But Improvement Will Be Slow
Expert suggests trucking downturn may start to improve but warns of a slow recovery until 2024.
Jason Miller, a supply chain professor, suggests that the trucking industry's current downturn, might be starting to improve, based on data from May 2023. Despite a slight increase in the amount of goods moved that month, Miller warns that the industry isn't out of the woods yet, as the total volume of goods moved is still down 1.3% from a year ago. He predicts that the situation won't improve significantly until 2024. In the meantime, he expects the financial performance of trucking companies for the second quarter of 2023 to be poor, but sees potential for improvement in the third quarter of 2023.
Source: Jason Miller LinkedIn