What’s The Trucking Industry Outlook For 2011?

by

Jerry L. Work

The trucking industry is in constant fluctuation and relies on a large number of outside factors to determine in what direction the industry will head. The trucking industry outlook for the coming year has some interesting things going on, and it is important for fleet and company owners to know what to expect for 2011. Here, we’ll go over a few things to consider for the coming business year, as well as a few key factors that should play a major role in determining the landscape of the trucking industry in the year 2011.

The trucking industry can be read as a small slice of the overall economy, because the transportation of goods is directly tied to the amount of goods consumers are purchasing, which in turn is tied directly to the creation of jobs around the country. As the employment market is constantly fluctuating, and currently in a slow, uncertain state of recovery, the outlook for the trucking industry in the coming year is uncertain. The creation of new jobs is inherently a slow process, and because it is a crucial aspect in determining the amount and nature of goods being transported, it is a tricky year to predict. Company owners and managers are advised to play it safe in the coming years, and an overall sense of careful growth seems to be the general consensus. Another factor playing into the outlook for the trucking industry next year is the nature of goods consumers and businesses are buying. Industrial goods such as equipment and raw materials have seen an increase in shipping recently due to business growth, while luxury goods have seen a significant drop due to people tightening their wallets. However, as the economy begins to recover, an increasing number of consumers will feel secure about purchasing more and more expensive goods. There is a number of challenges facing any trucking company owner. Growth is important, and yet company owners would be wise to carefully monitor the way in which they want to grow their business. However, refusing to grow can lead to stagnation, and there is currently an abundance of experienced and qualified people looking for work in the industry. Keeping a watchful eye on the types of goods being traded and the areas of the countries experiencing faster or slower economic growth will give trucking companies an edge on the competition in 2011.

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