Finally, news we can all be excited about. With the rise in consumer spending, retail sales, savings, industrial production, housing and auto sales, a steady increase in the trucking industry is sure to follow. The last two years have wreaked havoc on the trucking industry as a whole. With consumption decreasing in all industries across the board a seemingly dismal past was upon us. With the past behind us and a positive outlook and increase in consumer spending, the trucking industry is finally seeing positive signs of increasing workloads.
The trucking industry itself has always been, and will continue to be, affected on all levels of the economy. With the ups and downs of the economy, so go the ups and downs of the trucking industry. More and more drivers are finding positive signs of work. It is increasingly becoming easier to find return loads on their runs and they are not dealing with as much competition as they were before. The downturn in the industry took its toll and caused many drivers to look for different lines of work while the industry workload continued to slip. That decrease in available drivers has led to opportunities to the ones who managed to survive the downturn and are now finding more work on a daily, weekly, and monthly basis. With more opportunity and less drivers available, the availability of loads to the ones who survived are increasing.
The outlook for 2010 is positive. Understandably, a slow but steady increased stream of work is to be expected throughout the entire year, with the peak being around the third quarter of 2010. We can expect moderately steady recovery until then, but the peak in the third quarter will get the industry booming like before. With all industries having been impacted by the economic downturn, many consumers, retailers, producers and manufacturers are wary about jumping in feet first to the recovering economy. That is why peak economic performance and shipping loads will be stable through the first two quarters and see a large increase in the third. Expected GDP should peak out at the third quarter once consumer trends and confidence starts to regain its vigor.
One definite indicator of increased workloads is that the sale of class 8 trucks has increased by 10% from this time last year. Drivers looking for new trucks are a positive sign of recovery for the industry. Without the availability of loads, there is no need for a new truck. While the industry continues to recover, so will the truck market. This is a positive indication that the industry is seeing recovery. While many people believe the recession is still upon us, just look around and you can see positive signs of growth everywhere.