by Jeff Della Rosa (JDellaRosa@nwabj.com)
The trucking industry overcame multiple challenges in 2022, including some surprises, as the industry shifted from the COVID-19 pandemic into something more normal. With 2022 in the rearview, 2023 brings uncertainty and rising recession risk.
Shannon Newton, president of the Arkansas Trucking Association, said 2023 is not expected to be as healthy financially as 2022, especially in the first half of 2023. She’s hopeful the softer demand will begin to return to more normal levels and leads to growth opportunities by the end of the year.
“There’s a healthy amount of uncertainty,” said Newton, noting the economic forecasters who are predicting a recession in 2023. “Whether it is deep or wide or short or long, I think the opinions vary. But I think the industry expects there to be a recession of some sort in the early part of 2023.”
