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A Warning from the Trucking Industry?

My file of “random recession indicators” seems to be growing by the day.  This time it’s the trucking industry from data compiled by Morgan Stanley (via Business Insider):

“Last week we conducted a series of channel checks in the Truckload sector and while July freight was in line with expected seasonality, and up from last year’s relative weakness, August volumes were a bit weaker than expected. It appears that August loads were barely positive YoY and roughly flat sequentially (typically August volumes improve from July). Multiple carriers cited uncertainty over the election and overall economic softness as the drivers of August weakness and expected September softness. In addition, as we noted in our weekly, September has two fewer work days than in 2011, which may skew its typical seasonal strength and makes comps more challenging.”

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