ATA Economist Costello Sees Recession Taking Hold

DALLAS — The attack of Sept. 11 almost certainly will send a weak national economy into a recession, but how long it will last depends on whether American businesses and consumers adopt a “bunker mentality,” according to Bob Costello, chief economist for American Trucking Association.

Speaking Sept. 25 before ATA’s National Accounting & Finance Council, Costello sketched out a scenario that could significantly hurt trucking activity for months to come by cutting into general commerce.

The nation, weak economically before the attacks, has since lost thousands of lives, many thousands of jobs and uncounted productive capital, Costello said. The task now is to adjust to a new way of doing business, he said.

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