Retail and manufacturing slows and it’s a bad sign for trucking and freight rates
“Economic data from the goods side of the economy continued to underperform in April, as both retail sales and industrial production unexpectedly declined during the month” – According to article in freightwaves.com and its author
Bayaan also wrote – “This serves as disappointing news for trucking and parcel demand in the economy, as most of the goods movements between warehouses and retail locations occurs by either truckload, less- than-truckload, or parcel shipments.”
Escalation of trade wars between the U.S. and China will likely make things worse for trucking industry and freight rates.
Read full story here : freightwaves.com/news/more-troubling-signs-for-freight-demand-as-retail-manufacturing-slip
Source and credits : reightwaves.com /