Costello went on to say that manufacturing output in the chemical, primary metals, computers, electronic equipment, appliances and transportation equipment sectors would climb at least 2% next year, with the computer segment jumping 6%. Consumer spending on goods rather than services led to part of the issues in 2024. When the world was confined to their homes during the pandemic, the purchasing of consumer goods was at record levels. Once the pandemic ended, people wanted to do things rather than buy goods, so services and experiences were the focus. And as we know, when people are not buying goods, the need for trucking goes down. Record inflation — which has taken a toll on consumer spending — is expected to cool as the Fed continues to decrease interest rates. Costello expects to see better home sales in 2025 with wage growth remaining near historic averages. This means consumers will have more money in their pockets. The positive effects of this change will come, but won’t be immediate. The bad news is the supply sector, specifically smaller trucking companies, will possibly see consolidations and some may even shut down. One-truck owner-operators may need to lease back to another company. But, as demand rises and the supply decreases, it should equal a little better situation. I remain optimistic about the future and am confident that better days lie ahead. As American sports analyst and former football coach, Jimmy Johnson said, “The difference between ordinary and extraordinary is that little extra.” And, if there’s one thing I know, we, as truckers, are determined, resilient and willing to go that extra mile. No matter what comes our way, we will persevere, adapt and fight for something better. In short, we will keep on trucking. I hope you enjoy reading this issue. Thank you for all that you do to help keep KTA strong. As always, please reach out to me if you have questions or concerns, or if you just want to catch up. I always enjoy hearing from you. Sincerely, Rick Taylor President, KTA Our ASE-certified mechanics provide superior repairs and maintenance for semi-trucks at fair prices. • Complete Truck and Trailer Alignments • Tracking and Tram • DOT Inspections • U-Bolts • Steering Repairs • Frame Alterations • Truck Fabrications • Leaf and Air Springs • Air Ride Suspension Repairs • Fifth Wheels • Wheel Balancing, Tire Replacement and Turning • Drive Axle Repairs and Replacement Medley’s Auto and Truck Repair Services Inc. has two convenient locations in Louisville. CONTACT US TODAY! (502) 459-5740 quote@medleystruck.com medleystruck.com WE GET YOU BACK UP AND RUNNING! Medley’s Auto and Truck Repair Service Inc. Since 1944 Kentucky Trucker | 7
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