Are signs really pointing to increased rates in 2017? Is there a storm on the way? Find out what we learned from the Deputy Chief Economist of BMO Harris.
One of the other things that we have been talking about is the correlation between economic conditions and carrier rates. In particular, we have talked about how a boost to the economy will raise rates. Recently I heard a speech from Michael Gregory, Deputy Chief Economist and Head of U.S. Economics for BMO Harris, and he highlighted three things that could positively impact the economy: regulatory relief and tax reform, consumer spending, and Capex spending by corporations. He noted that the first two of those are already turning bullish, and if capital expenditure spending picks up, we should see GDP growth of 2.5 to 3%. At 3%, it will be hard to find trucks, and you will pay more for the ones you can get.
If you’re wondering when you should conduct a sourcing event, give us a call at 630-833-0890, send us an email, or start by having us benchmark your rates at no charge.
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Mike Regan
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