🇺🇸 US Conference Board Consumer Confidence Expectations minus Present Situation -77.2
Leading indicator for #recession!
Chart: @LizAnnSonders pic.twitter.com/nYsQcGlMBq
— Alex Joosten (@joosteninvestor) March 27, 2024
As economic indicators send warning signals, analysts are keeping a close eye on the pulse of the trucking industry. The latest data points to a downturn in the number of trucking employees, a trend that has historically been associated with recessionary periods.
The US Conference Board Consumer Confidence Index paints a bleak picture, with expectations versus present situation registering a stark -77.2. This sharp decline is often seen as a leading indicator for an impending recession, sending ripples of concern through the financial landscape.
A YoY decline in the number of trucking employees further fans the flames of economic uncertainty. Historically, such declines have coincided with each of the past four recessionary periods, prompting fears of an impending downturn.
YoY Decline in Number of Trucking Employees
A downturn in the number of trucking employees has coincided with each of the past four recessionary periods.
Notably, in 2016, a small decline can be seen, which was not accompanied by a recession. Today, we see a similar decline,… pic.twitter.com/5wXPqTrKih
— Reef Insights (@ReefInsights) March 27, 2024