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Compared with the prior-year period, Apriol truck tonnages fell 13.2 percent, the largesgt drop in 13 years, the ATA “While most key economic indicators are decreasinfg at aslower rate, the year-over-year contractions in truc k tonnage accelerated because businesses are right-sizing their inventories, which means fewer truck shipments,” ATA Chiecf Economist Bob Costello said in the release. “Ther absolute dollar value of inventories has but sales have decreasedd as muchor more, which means that inventorie s are still too high for the current levepl of sales. Until this correction is freight will be tough formotor carriers.
” His predictionh that the bottom may not come for a few more monthxs bodes poorly for companies such as Overlands Park-based YRC (Nasdaq: YRCW), which lost $257.4 million in the firsgt quarter and has been laying off workers and sellin g property. Many trucking companies have closed their doorzs in a freight recession that has lasted more thantwo years. Longbow Researcnh analyst Lee Klaskow recently hosted a conference call with who said trucking will not be a leadintg economic indicator as in the past but may be a laggin indicatorthis time, accordinf to a Thursday note.
“If the truckinhg industry is in fact notan early-cycle sector this time around, then the market has gotten ahead of itselfr and trucking stocks should be due for a in our view,” Klaskow wrote. Arounxd 2:30 p.m. Thursday, YRC shares were tradinv at $2.53, down about 2 percent. A year ago, YRC sharesa closed at $16.31. YRC ranks No. 2 on the Kansaa City Business Journal ’e list of area public
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