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Truckers have it good — a positive sign for the economy.
Privately held general freight companies in the U.S., on average, reported sales increases of about 7% in 2013, according to Raleigh, N.C.-based data firm Sageworks. Profitability improved, too. Net profit margin, on average, rose about 6% last year, compared with average margins in the 3% to 4% range the previous three years, the report shows.
Sageworks analyst Peter Brown says the trucking industry is a good indicator of the overall U.S. economy because it shows what's happening with domestic shipments. Brown says it's unclear what's behind the surge in trucking: volume, pricing, or a combination of both.
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