Coronavirus Recession Starts to Catch Up With Trucking Industry

Coronavirus Recession Starts to Catch Up With Trucking Industry

April 13 ,2020–Trucks.com

Analysts say consumers have stocked their pantries with most of what they needed as they started to comply with social distancing and shelter-in-place orders. A Morgan Stanley survey of more than 400 transportation carriers, shippers and brokers found that 100 percent were affected by the economic fallout of turning off large segments of the U.S. economy. The Port of Los Angeles, a U.S bellwether for import trade and business, moved the lowest amount of monthly cargo in March since February 2009. March logged a 30.9 percent cargo decrease compared to the same month a year earlier. First-quarter freight volumes shrunk 18.5 percent compared to 2019.

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