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Retail Sales a Good Sign for Truckers

Published Monday, June 14, 2004

Consumers spent 1.2% more on May than they did the month earlier to total $335.8 billion, despite concerns that high energy prices would close wallets. According to the Dept. of Commerce’s advance report, consumers are buying more cars, and doing more shopping for food, clothes, electronics and department stores. This marks an 8.9% year-over-year increase. Robust consumer spending combined with rising fuel pump prices indicate that the economy has enough steam to continue its growth, Chris Brady of Commercial Motor Vehicle Consulting (CMVC) told Fleet Owner. The overall increase in consumer spending was driven by motor vehicles sales, ...

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