Last Updated: April 26, 2012

Is The Economy Getting Better?

The economy is finally showing signs of life, but most people in the trucking business seem to be in the "wait and see" mode. Though truckers that I speak with daily are telling me that their trucks are full, and they are busier than they have been in at least 18 months, very few of them seem to be rushing out to buy new trucks yet. Two probable reasons, number one, we don't know if this is really a "recovery" or is simply a sign of the normally busier retail season taking hold, and two the credit market has not loosened up at all for those in business, specifically the trucking business. I have long said that the health of the trucking industry is a great barometer of the national economy; in a slow period, manufacturers order less raw material, and ship out less finished product, people buy less and so on. When we saw our revenue reports from our truckers in the fourth quarter of 08, we took quick action to streamline our business, and that has helped us do pretty well through most of 09. We consider ourselves fairly lucky at this time, as we have watched other businesses not survive this downturn.

I believe things are getting better, and that this is not simply a quick blip on a chart. I believe that people like myself have taken steps to make their businesses stronger and leaner. And I believe that 2010 is going to be a good, but not a great year for American business. And American business moves on the shoulders of the American trucker.

Insurance rates for trucking, somewhat due to the economic slide, are at an all time low. If you've ever thought about getting into the industry, now may be a good time to do it.