Noel Perry, senior consultant with FTR Associates and principal of research firm Transport Fundamentals, gave a very upbeat report on the state of the U.S. economy—including its positive impact on trucking—during a “State of the Freight” webinar hosted by FTR yesterday afternoon. According to Perry, the ongoing economic recovery in the U.S. has been “good” for both trucking and manufacturing.
He pointed that [on an x-y chart that the line for] the Gross Domestic Product (GDP) of the U.S. “tended from ’92 to ’09 to be higher than [the lines for] both Industrial Production (IP) and Truckload Shipments. But after ’09, GDP went to the lowest line. This pattern will continue through the ‘twenty-teens’ because U.S. manufacturing is benefitting from government stimulus programs and from rising exports. All this [activity] drives up freight.” What’s more, Perry said the latest data shows manufacturing as a segment of the economy is growing.