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US Economy, Trucking Industry Poised for Strong Recovery, Economists Predict

Posted - March 22, 2021

Economists predict the United States economy broadly and the trucking economy specifically are poised for a rocket-like recovery in the second half of 2021, propelled by $1.9 trillion in federal stimulus and millions of Americans who will receive COVID-19 vaccinations and return to restaurants, ballparks and theaters.

“If you’re looking to find a pessimistic economist, I’m not the guy,” American Trucking Associations Chief Economist Bob Costello told Transport Topics. Costello increased his prediction for the nation’s gross domestic product growth this year to 7%, up from 5% just a few weeks ago. “We are going to have some insane growth rates for GDP,” he said.

Adding to this optimism is a recent analysis from BMO Capital Markets that indicates American households have saved a whopping $1.7 trillion in 2020 and early 2021.


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