2023 “trucking recession” is a real possibility after stark 2022 peak season
Peak season is typically a time of stress and profit for the trucking industry. It typically refers to the busiest time of the year for shipping and transportation and can vary depending on the type of goods being transported and the region in which the trucking company operates. The holiday season, which includes Thanksgiving, Christmas, and Hanukkah, is also a busy time for the trucking industry as retailers ramp up their shipments of goods to stores and customers. But this year… retailers started early and finished slow.
In October 2022, trucking conditions hit an 18-month low according to FTR Transportation Intelligence. The for-hire tonnage index experienced its largest plummet since its conception in the month of November, according to the American Trucking Association. Large carriers are warning of future industry slumps, and most industry experts and leaders are predicting a difficult 2023 season.
House lawmakers have passed the Mail Traffic Deaths Reporting Act of 2024, directing the U.S. Postal Service to create new rules for tracking crashes involving its trucking contractors.