Freight Companies Feel Economic Downturn

Transportation companies are beginning to feel the downturn in the economy based on the latest survey from Longbow Research. A September survey of transportation professionals indicated a reduction in the amount of goods shipped in the US. The survey goes on to report that major retailers such as Wal-Mart and Home Depot are not shipping the volumes that freight companies expected just before the major holidays. All across the US retailers are suffering due to reduced consumer spending.

To offset the lower demand for trucking, freight companies have been offering lower rates. However this tactic may not increase demand any time soon as retailers forecast a continuing decline in sales whilst the current challenging economic climate persists.