Economic Watch: Overall Growth Revised Higher, Business Investment Up

The economy expanded more than previously estimated in the third quarter, and separate reports offered up some relatively positive economic news just in time for the holidays..

The nation's gross domestic product, which measures the total output of goods and services, expanded at a rate of 3.5% in the third quarter of the year, according to the Commerce Department. This third and final estimate is up from a 3.2% rate estimated a month ago and a 2.9% estimate in late October.

It's the best performance since the third quarter of 2014 and compares to a 1.4% rate in the second quarter of this year. The reading also beat a consensus estimate from analysts who forecast the GDP would be revised upward to a 3.3% rate.

The revised figure is based on more complete data that showed nonresidential fixed investment, personal consumption expenditures, and state and local government spending increased more than previously thought, according to the department.

“The data remains consistent with our view that underlying economic activity has strengthened over the second half of the year," said Nathan Janzen, senior economist at RBC Economics.

However, he said, RBC analysts do not expect a repeat of the sizeable third quarter GDP gain in the fourth quarter. "A sizeable 0.9 of a percentage point addition to growth from net trade, much of which reflected a transitory jump in food exports, is unlikely to be repeated,” he explained. "And we expect a small subtraction, compared to a significant third quarter addition, from fourth quarter inventory growth.”

Despite this, RBC says it is forecasting a 2.1% annual gain in the fourth quarter GDP, led by further improvements in consumer spending, a pickup in residential investment, and a slightly stronger gain in business investment.

On a related note, a separate Commerce Department report showed consumer spending in November rose 0.2% following ...Read the rest of this story

Schneider National family taking fleet public

Schneider National farmily taking fleet public

Truckers' needs championed in W&D talks

The Aftermarket in 2016: A Review

The truck parts and service aftermarket has grown to $107 billion, according to MacKay & Co., and as a result it is getting a great deal of attention. In 2016 there seemed to be a big focus on parts, alliances and training with other issues like DPFs, remanufacturing and some innovative ways to deal with the technician shortage also getting some play.

Here's a closer look at some of the key aftermarket concerns in 2016.

Fleets have myriad options when it comes to selecting parts for their vehicles. From private label to all makes to price point to aftermarket replacement things can get confusing when a truck is down and a part is needed for a repair. Worse yet, it can be very difficult to determine exactly whose part is actually in the box. Experts advise fleets to continually evaluate the requirement of the part based on the application it is needed in. Partnering with the right supplier — be it dealer or independent distributor — should provide fleet managers with the assurance they need that they are getting the part that will serve them best.

All too often the focus of a repair is getting a truck assessed rapidly, with less attention paid to whether or not parts are in stock and available. In 2016 several OEMs as well dealers and distributors began initiatives to get parts closer to the customer. Daimler Trucks North America, Paccar Parts and Hino all opened new parts distribution centers in 2016. According to Daimler, the new PDC was part of a “multifaceted plan to improve parts availability.” Stone Truck Parts in Garner, N.C., a member of HDA Truck Pride, moved into a 75,000-square-foot facility that “allows us to have the right parts in stock for [our ...Read the rest of this story

Truck parking, driver amenities focus of Love’s expansion effort

Andrew Uviedo will tell you that finding parking is a big deal for today's truck drivers.

As the general manager for the four year-old Love's Travel Stops & Country Stores facility in Natalia, TX, along I-35, he said that tractor-trailers start pulling into his location starting between 3 pm and 4 pm in the afternoon to secure one of his truck stop's 150 slots for overnight parking.

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Maverick acquires Marine Transport

Maverick USA has acquired Au Gres, MI-based Marine Transport Inc. (MTI). Assets include approximately 25 tractors and 80 trailers.

Terms were not disclosed.

Founded in 1983, MTI is a family-owned dedicated boat hauling company. Founder and owner Wayne Bigelow is retiring, but his son Bryan will join Maverick and continue to run MTI, Maverick said.

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