Transportation trends in TAB Bank report are strong indicators of greater economic health
Jul 26, 2012 3:57 PM
The Summer Trucking Report released from TAB Bank is showing broad signs of growth based on monthly truck tonnage, fuel costs, perceived business conditions, and invoice size. Historically, trends in trucking and transportation serve as good indicators of the greater economy.
"Overall, we're seeing the trucking industry trending up, where overall business conditions are improving, business owners are feeling increasingly optimistic, and TAB Bank is funding more receivables than we have over the past 12-18 months,” says Eric Myers, TAB Bank vice-president of marketing. “This is great news for the overall US economy, because as trucks transport more products, it represents a leading indicator of greater demand."
TAB Bank Summer Trucking Report Highlights:
*The price of diesel fuel has dropped from about $4.15/gallon to about $4.00 from March to May 2012
*Monthly truck tonnage has increased 6.2% from March to April and 6.8% over April 2011
*Business conditions have improved in all categories, based on six questions that include data like recent freight rates, to fleet size, and number of employees
*TAB's Core 25 Index increased revenue 13.7% between January and May 2012
*Collections of unpaid invoices for TAB's Core 25 improved from 29.7 days to 28.9 days.
Download the Summer Trucking Report at: https://www.tabbank.com/viewPDF.do?article=TAB_Infographic_Summer2012.pdf
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