This is the fifth moderately downbeat reading in six months.
“Dashboard readings to date suggest a more gradual deceleration in Class 8-focused metrics than was the case in our last three market downturns, the Great Recession in 2008, the popping of the global commodity price bubble in 2014, and most recently, the consequences of protectionist trade policy in 2019,” Kenny Vieth, ACT’s president and senior analyst, said. “Obviously, negatives are not positive, but the nearly unbroken string of -3 readings since March compares favorably to the double-digit Dashboard declines experience during those periods. We expect more and more negative readings are inbound, though they are not here yet.”
Vieth said the trucking stock index pulled back into neutral territory, while residential construction expenditure deteriorated into negative territory, from neutral.
“Of the 15 variables in the Dashboard, three were at ‘positive’ levels, down from four in July, while the number of variables in ‘negative’ territory increased from five to six,” Vieth said.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.