Hauling Industry News
Truck Orders to Plunge, GDP to Fall Lower, Diesel Prices to Rise in 2020
As 2020 begins, the signs are mixed for trucking. Expectations for an environment marked by weaker freight demand, pressure on profitability, higher-priced diesel and falling truck and trailer production mix with lingering talk in some circles of a possible recession. An uncertain national political environment could also chill business outlooks.
At the same time, hopeful signs are appearing — U.S.-China tariffs appear to be getting sorted out and a new trade agreement vital to trucking is on tap. And despite the nearer-term outlook, equipment suppliers continue to invest for better times.
While Canadian approval yet remains, Mexico’s parliament has approved the pending U.S.-Mexico-Canada Agreement on trade that replaces NAFTA. The U.S. House approved the measure Dec. 19, and it looks like the Senate will vote on it in early 2020.