The FTR Experts were posed with the question, "What happens to trucking when consumer spending picks up again?"
Following The 2021 Outlook, the final session of the FTR Engage virtual speaking series, the FTR Experts sat down to answer listener questions beyond what was covered during the Q&A within the presentation.
Key Takeaways:
- The biggest beneficiaries will be in the food and beverage side.
- We should be much more interested in what happens if people don’t come back to services. This is a real underlying alternative that would be a net negative for trucking and a big problem.
- 10 million people are unemployed. This situation will sooner or later be bad for trucking and can ratchet out of control quickly. People not making rent means evictions, businesses going out of businesses hurts everyone including landlords, and so on. This situation almost guarantees another big double-dip recession.
- For the economy to survive, there has to be spending on services.
Listen to the full discussion on the State of Freight Podcast or read the fully transcribed Q&A on the FTR Blog.