WEB Notes: Shipping is down, rail is down and trucking is down. That is a very clear sign the materialistic economy is in decline. I think we can attribute some of the trucking being down to less purchasing at local stores and more purchases with online retailers. It would be interesting to see how UPS, USPS and other mail carriers are fairing. Nonetheless, this would not answer the overseas shipping being at record lows.
We have previously shown just how bad the situation in the US heavy trucking space – trucks with a gross weight over 33K pounds – was most recently in “US Trucking Has Not Been This Bad Since The Financial Crisis” in which we looked at November data and found, that “Class 8 truck net orders at 16,475, were 59% below a year ago and the lowest level since September 2012. This was the weakest November order activity since 2009 and was a major disappointment, coming in significantly below expectations. All of the OEMs, except one, experienced unusually low orders for the month.”