ATA’s Costello: Recession Remains Uncertain, but Expect More Carrier Closures

Date: June 13, 2019
Source: Transport Topics Magazine

Bob Costello isn’t sure that a recession — a downturn that could impact freight and trucking companies across North America — is coming, or when, but the economist senses something is amiss.

It isn’t the numbers that give him the most concern. It’s the trucking officials he talks to, such as the ones he spoke to at the annual conference of American Trucking Associations’ National Accounting and Finance Council on June 11.

Costello, ATA’s chief economist and senior vice president of international trade policy and cross-border operations, spoke to the council here.

“When I come to meetings like this, everyone is like, “What is going on? Are we headed for a recession?’ ” Costello said. “When people start asking those questions, you know what tells me? You go back to your businesses, and you are not going to take risks. And when you don’t take risks, that means we are not going to grow at the same pace that we were.”

Costello said President Donald Trump’s trade wars have created uncertainty, and that is one of many unknowns that could hurt the U.S. economy, which has been in expansion since the third quarter of 2009… To continue reading, CLICK HERE.

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