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Wells Fargo: Trucking Industry Likely to Experience ‘Modest Growth’ in 2013

December 13, 2012, 07:48 AM
Filed Under: Trucking

According to the Wells Fargo Equipment Finance Q4 2012 Trucking Quarterly, growth in the trucking industry is expected to remain at a sub-par pace over the next two quarters as the fiscal cliff negotiations heat up.
According to the report, Sam Bullard, Wells Fargo Senior Economist believes business leaders are unlikely to push forward in any major way until there is some certainty over tax policy and the long-term budget deficit.

However, Bullard says all is not dim for the transportation sector as the positive momentum from the housing market is expected to continue with upside risks to the forecast.

Bullard believes how we maneuver through the fiscal cliff will greatly determine the trajectory of growth in 2013. Even with a favorable outcome, growth prospects remain limited and do not appear to be materially better than 2012’s expected 2.2% performance. If this is in fact the case, on balance, the trucking industry is likely to experience modest growth in terms of truck production and shipment volumes next year but still remain challenged on stricter regulations to transport that freight and ongoing driver shortages.

Read the full Wells Fargo Equipment Finance Q4 2012 Trucking Quarterly.

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