Freight Demand Likely to Decline Into ’09, Analyst Says

Freight demand for U.S. trucking companies is likely to decline as credit stays tight, a Wachovia Corp. economist said at American Trucking Associations’ annual meeting in New Orleans, Bloomberg reported.

Credit is likely remain tight into late 2009, Mark Vinter, a senior Wachovia analyst, said at ATA’s annual Management Conference & Exhibition in New Orleans.

Trucking freight demand, which began falling in the fourth quarter of 2006, is a considered a leading economic indicator, Bloomberg said.

The Standard & Poor’s Supercomposite Trucking Index, made up of 11 companies, fell 12% that on Oct. 2, the biggest drop in its history, Bloomberg reported.

ATA Chief Economist Bob Costello said it was too early to say when trucking demand would turn around, Bloomberg reported.