Certain portions of the goods economy are collapsing right now, says Freight Waves CEO Craig Fuller

Freight Market Overview - The goods economy, specifically certain portions, is currently experiencing a collapse [2] - Year-over-year trucking volumes are down 17%, indicating a significant decline in freight movement across the United States [2] - Industrial sectors, including energy, automotive, housing, and manufacturing, are down 30% year-over-year, reaching levels of concern similar to the great financial crisis [3] Factors Contributing to the Slowdown - Macroeconomic pressure and high interest rates are causing companies to hesitate on long-term investments [4] - Tariffs have led to inflation in wholesale prices, impacting raw material imports for manufacturers [5] - Over-supplied energy market and auto industry credit quality issues are contributing factors [6] - Elimination of the de minimis threshold has impacted parcel companies, contributing to lower volumes for UPS [9][10] Impact on Employment - Approximately 35 million jobs are tied to the long-haul goods segments, including energy, auto, housing, manufacturing, and transportation [7] - This contrasts with the 2 million jobs in the hyperscalers sector [7] Potential for Recovery - A recovery in the housing market is crucial for the freight market, as it indirectly relates to as much as 20% of trucking market activity [13][14] - Easing of interest rates by the Federal Reserve is considered the most important factor for the freight market's recovery [13]