There’s some gloom but likely no doom for trucking’s economic outlook next year, according to economists who presented FTR’s State of Freight webinar.
As reported by Heavy Duty Trucking, Bill Witte, FTR senior consultant, said his forecast through the end of 2016 is now “significantly less optimistic” than it was nine months ago” but he still expects modest growth similar to what has been experienced over the past five quarters.
Economist Noël Perry, FTR senior consultant, was more pessimistic about the year ahead, although the risk of the US economy slipping into recession next year as small. He added that the chance of that happening will increase in 2017.
“History tells us freight slows before a recession occurs,” Perry added. “So, we could have slow growth in freight in 2016. And a recessionary condition in 2017.”
