Government

ANAHEIM, Calif. — Whenever truckers think times are tough in their industry, they might want to consider ocean shipping, where the estimated losses this year could top $20 billion, shipping officials here said.

The Surface Transportation Board has approved an application by 10 small drayage carriers serving the ports of Los Angeles and Long Beach, Calif., to pool some of their operations and purchases of fuel, equipment and materials.

U.S. truck tonnage fell 5.2% in October, yet posted the best year-over-year performance since November of last year, as analysts said signs of a lasting economic recovery were uneven.

Retail diesel prices edged lower again last week for the third consecutive time, while gasoline prices rose, the Department of Energy reported.

New home sales grew 6.2% in October to the highest level since September 2008, the Commerce Department said Wednesday.

U.S. consumer confidence declined this month, according to the final Reuters/University of Michigan monthly consumer sentiment index released Wednesday.

Kenan Advantage Group will acquire the assets of Reinhard Transportation, a Federal Way, Wash., fuel hauler that runs 64 trucks.

Consumer personal spending and personal incomes both rose in October, the Commerce Department said Wednesday.

Durable goods orders fell in October, the Commerce Department said Wednesday.

WASHINGTON — Several lawmakers, Department of Transportation officials and experts have expressed concern with elements of a vehicle miles traveled tax, which some advocates tout as a replacement for the federal fuel tax, while also cautioning that a transition to VMT could be a slow process.