American Trucking Association has released its latest US Freight Transportation Forecast, which predicts freight volume growth including the pandemic recession
ATA predicts fall in total truck freight volume by 10.6% in 2020. However, it is expected to recover by 4.9% in 2021 with annual growth rate of 3.2% until 2026. Even with the impact of the pandemic, total freight tonnage is projected to grow 21.7% over the forecast period, while total freight transportation revenue is forecasted to surge 45.7% by 2031.
Key takeaways from the report show recovery from the second half of 2020, but there are risks and uncertainties, including the potential for a second wave of COVID-19 infections until a vaccine is widely available, new setbacks with tariffs or additional international territorial disputes, major national disasters, or other shocks. Read here