Study: Trucking industry growing in bleak economy
While many indicators have suggested the country's economic status is weak, one of the few bright spots is the trucking industry, a new survey indicates.
According to General Electric Capital and its Mid-Market CFO Survey, truckers generate annual revenues of $650 billion, or what amounts to 4.4 percent of the gross domestic product.
GE Electric arrived at its findings through statistical analysis as well as polling chief financial officers across seven different industries, including trucking companies.
"Transportation CFOs … are relatively upbeat when it comes to the state of their own industry," the report concluded. "They expect both revenues and profit margins to rise."
Even though CFOs expected their earnings to grow, the report also noted that they anticipate their costs to increase as well, particularly when it comes to energy expenditures on things like fuel.
The survey also questioned trucking CFOs about what some of their primary concerns were as it related to their business. Eight-four percent said they were concerned about vehicle safety, 78 percent were worried about fuel price volatility and 76 percent were apprehensive about retention.
According to General Electric Capital and its Mid-Market CFO Survey, truckers generate annual revenues of $650 billion, or what amounts to 4.4 percent of the gross domestic product.
GE Electric arrived at its findings through statistical analysis as well as polling chief financial officers across seven different industries, including trucking companies.
"Transportation CFOs … are relatively upbeat when it comes to the state of their own industry," the report concluded. "They expect both revenues and profit margins to rise."
Even though CFOs expected their earnings to grow, the report also noted that they anticipate their costs to increase as well, particularly when it comes to energy expenditures on things like fuel.
The survey also questioned trucking CFOs about what some of their primary concerns were as it related to their business. Eight-four percent said they were concerned about vehicle safety, 78 percent were worried about fuel price volatility and 76 percent were apprehensive about retention.
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