18-wheeler orders jump 39% in June
A rebound in June of long-haul truck orders has analysts and economists scratching their heads.
Companies nationwide ordered 18,100 Class 8 trucks, the big 18-wheelers used for long distance and high-volume shipments, a 39 percent increase from the same month last year, and up 1,200 units from May 2017.
Kenny Vieth, president and senior analyst for ACT Research, said the uptick is a sign of consumer confidence following the election of President Donald Trump, who has called for renegotiations of trade deals and increased infrastructure funding.
The orders are coming from smaller companies, not the large companies that usually order in the fourth quarter, in preparation for the upcoming year.
With so much volatility in retail markets — including high inventory rates — Vieth said he and his colleagues were “surprised by the strength” of the Class 8 orders.