The chart below is showing that the delivery delays are getting longer which only will mean inflation will stay high and consumers cut back on their spending.
Furthermore, the US transportation industry is having a downward trajectory as explained below.
http://sg-stock.blogspot.com/2022/04/former-treasury-secretary-larry-summer.html
The latest trucker rejection rate has reached a doldrum (9.92) compared to the previous year (25.76). The trucker rejection rate is a very important indicator of the US economic growth because trucking represents more than 70% of all freights in the US. The general rule of thumb is that a high trucker rejection rate indicates good economic growth and vice versa.
The low rejection rate means that truckers are unwilling to reject the freight orders because they can see that the freight orders are dwindling in the US. Therefore, they're no longer as picky as the previous year since beggars cannot be choosers.
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