According to Truck News, spot market rates are falling and the truck demand is decreasing as well. With the ongoing war between Russia and Ukraine we will continue to be in a financial bind as a nation due to the aid we are providing. COVID regulations in China are another factor contributing to these supply chain delays. China has been on and off with their covid mandated lockdowns, creating inconsistency within the national supply chain. “The battle against inflation is global. U.S. inflation continues to accelerate, prompting the [U.S. Federal Reserve] to lift the Feds Funds rate 75 basis points this week, the largest increase since 1994, and markets and economists are increasingly predicting a U.S. recession in 2023”. Backlogs are continuing to grow along with increasing order volumes. Experts are reporting expectations of a U.S. economic recession, and a mild recession is more likely than not. Commercial vehicles will continue to face obstacles and the economy will feel the ripple effect of the issues the trucking industry continues to face.
Recession risk is growing
-
Author Writer
- June 28, 2022
- 0 Comments

Recent News Articles
Fresh job related news content posted each day.
What Matters Most to Truck Drivers A Comfortable Seat or a Killer Sound System?
When you’re clocking long hours behind the wheel, every little detail inside the ...
38 Percent of Inspected Trucks Taken Out of Service in West Texas Oil Patch
The Texas Department of Public Safety recently reported the results of a large-scale ...
ADOT Helps Transport Philippine Mars Seaplane to Tucson Museum
Transporting a massive World War II-era seaplane, the Philippine Mars, from Lake Pleasant ...
Deadline Approaches for Transition Trucking Award Honoring Military Veterans
The time is running out to nominate exceptional truckers for the coveted Transition ...
After the Big Rig: Driving Gigs That Work Best for Retired Truck Drivers
Retirement from long-haul trucking doesn’t mean you have to hang up your keys. ...
From Simulator to Semi Truck: How a Virtual Drive Changed Connor Hudziak’s Life
What started as a hobby in a Chicago gamer’s room has now set ...
Port of Savannah launches app to enhance trucker experience
The Georgia Ports Authority (GPA) has developed and introduced the GPA Trucker mobile ...
Trucker Honored as TCA Highway Angel for Heroic Act
The Truckload Carriers Association (TCA) has named Kerry Netusil, a truck driver from ...