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The nation’s manufacturing is continuing to show signs of renewed life following a downturn, while separate reports show overall moderate economic growth with existing home sales booming.
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Covenant Transportation Group Inc. has lowered expectations for its second quarter earnings report due to the current freight market as well as internal issues it’s facing.
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FedEx Corp. cut much, but not all, of its second quarter losses compared to a year earlier, while a preview of Werner Enterprises Inc. second quarter earnings sent heartburn throughout trucking and Wall Street amid concerns about second quarter trucking profits.
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Separate gauges of truckload line haul rates and intermodal rates both fell in May, according to newly released figures, following a Monday report showing freight levels are well below those of the last several years.
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Although North American freight shipments continued to climb in May, they are still well below those of the last several years, and expenditures for freight fell for the third time in five months, according to the latest Cass Freight Index Report.
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After enduring a bruising first quarter that saw falling profits at many fleets, it comes as no surprise that in a second quarter survey of business conditions fleet executives are feeling a bit down.
Read More →Retail prices inched up again in May, while a closely watched measure of inflation by the U.S. Federal Reserve remains slightly above a level that sets the stage for an interest rate hike later this year.
Read More →A decline in manufacturing activity helped push down the amount of output from the nation’s factories, mines and utilities in May, while prices at the wholesale level moved higher for the second straight month, according to economic reports released Wednesday.
Read More →U.S. retail sales rose a stronger-than-expected 0.5% in May from the month before, building on a strong April gain, which could lead to better expectations of overall second quarter economic growth.
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DTNA has announced a workforce reduction across its North American production facilities, laying off about 1,240 workers in response to sustained reductions in truck orders.
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