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Wednesday, August 13, 2008

Trucking Sector Picking Up

The trucking sector of the economy has begun picking up steam the last few weeks. Recently, a Longbow Research analyst announced that the sector has been upgraded from "Underweight" to "Neutral", due to a survey of truckers that asked whether or not they had a positive feeling about the industry going forward.
Apparently, about half of survey respondents are expecting positive business growth the rest of the year, compared to about 17% this June. Out of all those surveyed,  20% expected the sector to further decline, whereas nearly 70% expected negative growth two months ago.
Regardless of how the trucking market responds, the truckers do see the light at the end of the tunnel. Longbow Research's analysts say, "We expect capacity to continue to shrink in the trucking market, spurring demand and improving pricing."