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Economists at Goldman Sachs have raised their assessment of the odds the U.S. will experience a recession to 45% from 35% following President Donald Trump's tariffs announcement April 2.

American Trucking Associations' freight volume index posts second straight year-over-year gain. ATA Chief Economist Bob Costello said, "Growing optimism for the truck freight market after a two-year recession.”   

Trucking is emerging from a difficult period, and the headwinds that have plagued the industry are beginning to weaken as freight volumes improve and capacity leaves the market.

“People are looking at the prices of things and freaking out,” Bob Costello said Feb. 20 at the 2025 Recruitment & Retention Conference in Nashville.

American Trucking Associations Chief Economist Bob Costello on Oct. 14 highlighted how the freight market is set to slowly improve as equipment and demand rebalance. 

Even with a stronger-than-expected 2.9% fourth quarter increase in gross domestic product, two  prominent freight transportation economists say the threat of a recession will persist this year.

SAN DIEGO — American Trucking Associations revealed Oct. 25 that it estimates the shortfall of professional drivers has decreased slightly to 78,000 for this year.

Truck tonnage in January rose 1.2% when measured against year-ago levels, marking the fifth consecutive month for a year-over-year increase, American Trucking Associations said.

Three core economic sectors of trucking are showing strength, but disruption from the omicron variant of the coronavirus hangs over the industry as it heads into 2022, American Trucking Associations Chief Economist Bob Costello said.

A Department of Commerce advisory group is urging federal officials to lead a widespread effort to address the nationwide shortage of truck drivers, which the panel said has “likely reached an all-time high.”