Many trucking companies enjoyed a surge in cargo demand as consumers stockpiled basic goods at the height of lockdowns. But on the other end of the spectrum, consumer confidence was dampened by intensifying economic uncertainty, resulting in an overall nose-dive in spending as the months went on, particularly across big-ticket items such as furniture and cars. “The unemployment numbers are unprecedented in my lifetime… and it’s going to continue to get worse. It’s impacting our supply chain so dramatically,” a former VP at XPO Logistics, Inc. said.
Submit your email address for full access to our Research content.