Trucking is Strong in Most Regions, Federal Reserve Says

Published: May 26, 2014
Ryan Holst / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0)

According to the U.S. Federal Reserve “trucking and the overall economy showed improvement throughout much of the nation since March.” The information was published in the latest Beige Book, released eight times a year and containing “anecdotal information it gathers from sources such as bank directors, key business contacts and market experts.”

According to the report, most of the 12 regions included registered an upswing in both ports and trucking. Optimism prevailed even in places “where transportation was soft.”

The upgrowth is the result of well performing manufacturing and other industry sectors. According to a Virginia-based trucking company, it is also the result of “catching up”. Because of the bad winter conditions, many shipments and deliveries were postponed and now that temperatures are up, they are finally happening.

Another finding of the Feds was that Atlanta’s trucking industry has recovered from the harsh weather – tonnage and freight volumes are up, but companies are struggling to find drivers.

Read the full article in Commercial Carrier Journal.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.

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