Unprecedented stay-at-home orders crippled state economies across the nation, curbed consumer spending, disrupted supply chains, bankrupted large and small trucking companies, and sidelined thousands of truckers. The nation had never experienced anything like it. And, neither had the transportation logistics industry.
Fear of the virus and government shutdowns caused a notable shift in consumer buying habits. Favorable projections hinge on consumer’s maintaining unusually high levels of spending on goods relative to services. We don’t think this will continue.