America's trucking industry is in a dire state, which is bad news for the American economy because it serves as an indicator of the mood of consumers and their pocketbooks heading into the holiday season, one expert warned. Post pandemic, there has been a surplus of trucks and drivers compared to the amount of freight that needs transporting.
"Obviously an increase in freight volume typically suggests the economy is growing, as it indicates greater demand for goods and services," he said. "We had COVID, we had a huge surplus of spending we didn't have enough truckers to move it," he added. "Now everybody, the consumers, have depleted their funds and they're not buying as much." In addition, the prices of everything, including energy and food, have "syrocketed.