4. Economy bringing opportunity for many truck fleets

After ranking as the top issue for three consecutive years (2009-2011), the economy dropped to third in 2012 and is now in fourth place on the 2013 Top Ten list. The economic recovery, even with the more recent slowdown, has reduced this issue’s significance relative to more pressing concerns.

In 2013, this issue’s ICI of 35 is significantly lower than its 2012 ICI of 89, and less than a quarter of respondents (23%) rank this issue first, second, or third. ATA’s chief economist projects economic growth to continue, however the pace of growth is expected to be moderate (2.5% growth in GDP forecasted for 2014). Congressional inaction over increasing debt levels, funding the government, and raising the debt ceiling would likely have negative impacts on growth forecasts.

Proposed Strategies:

a) Advocate for reforming/repealing ineffective and burdensome regulations that add to industry costs without providing benefits. The majority of respondents (56.9%) feel that regulatory reform is the best strategy for improving the economy.

b) Pressure Congress to change its pattern of short-term extensions and inaction that creates more uncertainty in the economy. It can be assumed that many of the 25.3% of respondents that prefer this strategy are concerned that congressional squabbles over short-term budget resolutions, debt levels, debt ceiling increases, and government shutdowns are not addressing many of the serious long-term issues that the economy faces.

c) Continue to advocate for policies that will stimulate the economy. This was the preferred strategy of 17.8% of respondents. Those who chose this strategy likely feel that the key to improving the economy is to promote policies that increase consumer confidence and consumer spending, and generate additional hiring and investment. Increased consumer spending would lead to more robust freight demand and a more stable financial situation for the trucking industry.