America's 'industrial recession' is so bad that truckers are warning there won't even be a 2019 peak season
There's a split between the industrial and consumer economies because trade tensions are dragging down industrials. The demand for US products have dipped, so factories are making less and trucks are moving fewer goods. Manufacturing comprises 11% of the US's gross domestic product.
Should trade tensions resolve, industry watchers say the industrial and trucking downturns should settle. Even though consumers aren't buying less, the industrial recession is so massive that it's eating into retail. "What's happening this year is the industrial economy is so weak that it's actually gotten negative," Sterling said. "The truckers come look at overall freight flows and say, 'Wow, we're way down just because industrial is so negative.' If industrial was more flat, you'd hear more positive out of these guys.
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