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Indicators2 Show US Economic Recovery Slow, Uneven3
Economists5 say trucks haul nearly 70 percent of the freight used in the United States.
The American Trucking Association says freight is a measure of the economy, because manufacturers have to move raw materials, carry parts to factories, haul imports and exports and deliver goods to store shelves.
“We are actually a very good indicator1, a leading economic indicator ((a way of looking at the economic future)) in fact. And so if tonnage starts to fall, we get nervous. If it’s going up, we are pretty happy,“ said Bob Costello, the group's chief economist4.
Freight tonnage is going up at the moment, but the rate of growth is slowing down.
"It is telling me that the economy is not falling into another recession. It will continue as a sort of a slow growth recovery," Costello said.
Other clues about economic growth come from the volume of air freight. The most recent data show demand for air freight fell more than three percent globally during July.
"It can also, as you start to see air cargo6 dropping off and you are seeing other signs -- it can also be a leading indicator of a downturn,” said Perry Flint, of the International Air Transport Association.
However, the same report shows that passenger traffic made gains during the same period.
That may be why a top official of Cambria Suites7 Hotels, Michael Murphy, says business is strong.
“We are seeing the highest demand in the history of the hotel industry right now. More people are traveling now than ever before, and that's in all segments of travel,” Murphy said.
The contradictory8 indicators are one reason that predicting the economic future is a complex and difficult task.
For example, government experts first said the U.S. economy expanded at a 1.5 percent annual rate during April, May, and June. Then they made a revision -- as new information became available and showed growth was more likely at a 1.7 percent rate.
Trying to figure out what to do about the sluggish9 economic recovery is even more complicated.
1 indicator | |
n.指标;指示物,指示者;指示器 | |
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2 indicators | |
(仪器上显示温度、压力、耗油量等的)指针( indicator的名词复数 ); 指示物; (车辆上的)转弯指示灯; 指示信号 | |
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3 uneven | |
adj.不平坦的,不规则的,不均匀的 | |
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4 economist | |
n.经济学家,经济专家,节俭的人 | |
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5 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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6 cargo | |
n.(一只船或一架飞机运载的)货物 | |
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7 suites | |
n.套( suite的名词复数 );一套房间;一套家具;一套公寓 | |
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8 contradictory | |
adj.反驳的,反对的,抗辩的;n.正反对,矛盾对立 | |
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9 sluggish | |
adj.懒惰的,迟钝的,无精打采的 | |
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