When it comes to the recession, the worst may be over. However, recovery will be slow. That was the message delivered at FTR Associates' recent Freight Transportation Conference.
More than 170 attendees attended the late-August conference, which was held in Indianapolis, Ind. FTR is a company that forecasts trucking industry and freight movement trends.
"Subdued consumer spending will slow the pace of recovery," say FTR officials. "Unlike most previous recessions of this magnitude, economic growth will be subdued, despite the depth of the current downturn. This indicates that growth in freight volumes will be gradual."
The trucking industry will continue to see high levels of excess capacity. "Equilibrium for carriers may not be reached until 2011, unless there is a more rapid recovery than currently expected."
