It’s been another week of depressing news on the economic front with the International Monetary Fund predicting a global recession, but at the same time in the trucking industry, it’s all going gangbusters.
It can be very confusing if you are involved in the trucking industry where there is so much work happening that you barely have time to think. Meanwhile, at the same time, those in power are warning that there is an economic crisis on the horizon and that a recession may be closer than we think.
As a general rule the trucking industry, or the purchasing behaviour of the trucking industry, is a good indicator of the overall economic health of a country.
When the trailer makers and the truck makers are snowed under with orders, and rushing around like headless chicken trying to get product out to their customers as fast as they can. This is generally an indication that the economy is going well.
With the pandemic, climate change and a war in Ukraine, we are indeed living in interesting times. There is a lot of disruption around the world as a result of all of these unforeseen events. There are going to be ongoing consequences from the situation, as none of these disruptors are going away any time soon.
Widespread disruption is the new normal and a lot of it does affect supply chains, and logistics, and, therefore, the trucking industry. At the moment, the pressure is on for those involved in the trucking industry to invest hard and to upgrade and equip operators to be ready for the demand which is constantly knocking at their door.
Let’s hope the predicted recession doesn’t come quickly upon us. We are at a point during which the industry is stretched. Stretched to the point where any short sharp recession could cause a lot of long lasting damage to the industry.