Fed Reports Improving Transportation Demand in Many Areas
U.S. economic activity continued to improve between October and mid-November, and demand for transportation services increased in many areas, the Federal Reserve said.
Ten Fed districts reported growth, with New York; Richmond, Va.; Chicago; Minneapolis; and Kansas City, Mo.; reporting strong growth, the Fed said in its latest “beige book” report, released Wednesday.
Freight companies in Cleveland, Atlanta, Dallas and Kansas City reported increased demand for transportation services.
In the Cleveland region, growth was “modest,” and carriers remained cautious. Fuel price increases were a universal concern, and companies reported trouble in passing costs on to customers.
Atlanta saw freight growth compared with the same period a year ago, though not as strong as earlier in 2010.
In Chicago, transportation companies planned to decrease operations and lay off workers, but Dallas firms added employees during the time span. Demand improved for transportation in Dallas.
Demand for trucks and autos also increased in many areas.
The Fed releases its beige book report eight times a year. Wednesday’s report, which covered the period of Oct. 9 to Nov. 19, was prepared by the Dallas Fed.
