Trucking Adapts to Spike in Consumer Demand
Trucking is handling increased demand and awaits a potential surge of pent-up activity because of the coronavirus, but what that means for the industry long term remains an open question.
World Trade Sees Worst Downturn in Generation
The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to contain the coronavirus pandemic.
Trump Points to Potential for Resuming Daily Operations by Easter
With Congress seeking to help stabilize the economy by advancing a $2 trillion rescue measure this week, President Donald Trump suggested a significant portion of the country’s operations, such as freight and passenger transportation networks, could resume as early as Easter, which falls on April 12 this year.
Economists Eye Possible Recession Caused by Coronavirus
Economists and other experts who watch the U.S. economy on a minute-by-minute basis are now suggesting, some loudly, that the nation is lurching towards a recession, as the coronavirus damages the economy.
Trading Halted After Stocks Plunge 7% at Open
NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange.
March 12, 2020Claims for Jobless Benefits Drop by 4,000
WASHINGTON — The number of Americans filing new claims for unemployment insurance fell last week for a second straight week, an indication that the coronavirus had not yet hit the labor market in a major way.
March 12, 2020US Wholesale Prices Fall 0.6%, Biggest Decline in Five Years
WASHINGTON — U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs.
US Businesses Add 183,000 Jobs in Sign of Pre-Virus Health
WASHINGTON — U.S. businesses added 183,000 jobs last month, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread farther around the globe.
US Construction Spending Up 1.8% in January to Record Level
WASHINGTON — Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects.
Economists Fear Possible Recession as Coronavirus Spreads
Economists who closely follow the transportation and trucking industry say the next month will be critical as to whether the economy avoids a recession in 2020 as concerns over the spread of the coronavirus mount.