January 31, 2013

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Winter Trucking Report Indicates a Slow and Steady Economic Recovery

Press Release

January 31, 2013

The Winter Trucking Report released from TAB Bank is showing signs of a slow and steady economic recovery according to monthly truck tonnage, fuel costs, perceived business conditions, and invoice size. Historically, trends in trucking and transportation serve as good indicators of the greater economy.

TAB Bank Winter Trucking Report Highlights:

  • Diesel prices are at their lowest point since August with a nationwide average of $3.911.
  • Sales volume for TAB’s core group of clients reached its highest point of 2012 in October but has since decreased significantly in the months of November and December as the post-holiday shipping season settles in.
  • For fourth quarter of 2012, total industrial production moved up at an annual rate of 1.0 percent.
  • Average invoice size for TAB’s core group of clients retreated below $1,000 for the first time since September as carriers adjust the fuel surcharge portion of the invoice to account for decreasing diesel prices.
  • Collections of unpaid invoices for TAB’s core group of clients reached their lowest point of 2012 in October at 27.47 days but have steadily grown once more to end the year at 30.69 days.

“We continue to see a mixed bag of industry indicators as the economic recovery continues to unfold within the trucking industry and the economy at large.  For example, diesel prices ended the year at their lowest point in months and the Industrial Production Index continues to show steady increases with a 1.0 percent annual increase during the last three months of the year. Our core group of clients posted their strongest sales in October in the past 12 months but that was followed with significant decreases in activity for the months of November and December,” said Eric Myers, TAB Bank vice president of Marketing. “The trucking industry is and will continue to be a great barometer for overall economic growth. As the trucking industry experiences growth, the overall economy can expect to follow suit. The economy has rebounded since the statistical low points of 2008 and 2009 but the recovery continues to develop at a slow, but still steady rate.”

While FDIC-insured TAB Bank provides alternative funding services to a variety of industries like manufacturing, staffing, and technology, the company’s first industry was transportation. TAB Bank releases a Trucking Report quarterly.

Utah Business Social
UB Events View All
Health Care HeroesUtah Business Event
Oct 21, 2014
Please join us, along with our sponsors, MountainStar Healthcare, and Roseman University in honor...
Content Marketing BootcampUtah Business Event
Oct 28, 2014
Please join Utah Business Magazine, along with our sponsor Adobe, for an in-depth, hands-on, educ...
Community Events View All
Ribbon Cutting Anniversary Bash
Sep 20, 2014
Open to the public, we invite you to celebrate with us at this family fun event, and our grand op...
How to Do Business with Kellogg’s
Sep 22, 2014
Participants will gain an awareness of enhanced awareness on the importance of supplier diversity...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel