Start your year off on the right foot with deep analysis of the 2020 freight market.
A new year means it’s time to evaluate your budgets and plan ahead. A necessary step in planning your year is to know what to expect with the overall economy and how that will trickle down to the transportation industry and, ultimately, your business.
But how deep does your research go when planning your budget? Are a few articles about what to expect in 2020 enough? Do you have a go-to resource? After all, your planning could make the difference between a successful or unsuccessful year financially.
Anderson Trucking Service (ATS) Chief Financial Officer, Paul Pfeiffer, takes a top-down approach when evaluating the upcoming year. He looks at things like what’s impacting the U.S. economy and how it compares to other well-established countries. Things to consider are housing starts and industrial production. What’s causing the ebbs and flows in those areas? For example, there was hurricane relief
efforts in Texas and Puerto Rico in 2017 along with the Tax Cuts and Jobs Act that spurred a lot of fixed asset and investment by many companies. That significantly impacted the freight industry.
Pfeiffer looks at the past trends and what we can expect in this year in his 2020 transportation outlook article. Get an inside look at what ATS analyzes when setting their financial targets and learn what to look for in 2020.