VIEWS: 17 PAGES: 2 CATEGORY: Business & Economics POSTED ON: 5/20/2010
The trucking industry in the US has traditionally been a key economic indicator. If motor carriers are doing well, then the economy is doing well. If consumption is up, then goods are produced and then shipped. If houses are being built, truckers are moving the building materials. It may sound crazy, but the lack of major storms in the last few years has hurt the trucking industry because all of the building materials are shipped all over the country in response to natural disasters. The fewer natural disasters, the less trucking transportation. Joe Hutelmyer, president of AmWINS Transportation Underwriters Inc, said freight demand has dropped. Hutelmyer says that the trucking industry environment is different from anything he has ever seen in his career. And, the economy is at the root of the problems, he says. On the plus side, says Hutelmyer, truck fatalities have dropped 12%, according to the National Highway Traffic Safety Administration.
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