The U.S. economy had a very strong second quarter, with real GDP rising at an annualized 6,5% rate. Prospects for the third quarter were projected to come in just slightly below the second quarter pace, but the rise of the Delta variant of the COVID-19 virus has caused some downward projections to emerge in the weeks since Q3 started. In early September, we learned that the impact of the Delta variant was substantial.
In 2010, the U.S. and the trucking industry began a recovery from the Great Recession that lasted a decade. In 2020, we tried to do it all in 10 months. In this analysis, we compare the trucking industry today to the industry in 2010.
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The following document is a discussion and explanation of how FTR deals with data revisions and specifically addresses large changes in the FED Industrial Production numbers. We encourage industry participants to read it and gain a better understanding of how, and why, industry data changes on a regular basis (both historical and outlooks).
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We are past the halfway point in 2021 and it is apparent that a recovery is well underway for the global economy. Despite the burst in economic activity, it is still too early to call it a post-COVID era, as infections remain at high levels in some places and variants are still forcing authorities to place restrictions on key areas across the globe. Still, it is a full-fledged economic recovery, and the World Bank projects it will be the most robust in 80 years.
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