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TRUCKING INDUSTRY'S ANALYSIS * USA - Analyst says trucking demand wilting
JPMorgan analyst Thomas R. Wadewitz lowered estimates for less-than-truckload carriers by an average of 7.3 percent for next year, and cut his truckload forecasts by an about 12.9 percent
New York,NY,USA -The Associated Press/The Trucker -26 Nov 2008: -- A JPMorgan analyst lowered his 2009 estimates across the trucking sector Wednesday, noting growing weakness among companies already battered by a sour economy... “Both transport and macroeconomic data have weakened significantly in the fourth quarter, indicating a fall in demand which is even sharper than we had previously anticipated,” Thomas R. Wadewitz wrote in a note to clients... The industry’s main trade group, the American Trucking Associations, last week said goods shipped by trucks in the U.S. in October fell at a faster-than-expected rate. Other key economic indicators, including the Institute for Supply Management’s closely watched service sector index and industrial production trends, “also clearly point to a sharp falloff in economic activity,” the analyst said...Labels: trucking industry analysis USA
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