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Infrastructure gains and economic recovery — Midday Market Update

What truck orders and consumer spending tell us about an economic upturn

On this episode of Midday Market Update, Kaylee Nix is joined by Andrew Cox to talk about how changes in the trucking world are reflected in the overall economic landscape. 

In headlines, President Biden has revealed trucking jobs account for 20% of his infrastructure plan; McCormick is returning inventory back to pre-pandemic levels in grocery stores; and Arrival is using a unique approach of microfactories to level up in the electrification game. 

Nix and Cox welcomed Rolf Reksten, vice president of route advisory services at StormGeo, to discuss how ocean carriers need accurate ocean current forecasts to optimize speed and fuel efficiency. He also touched on the future of ocean shipping in adaptation to climate change and carbon neutrality. 

FreightWaves Detroit Bureau Chief Alan Adler also joined the show to discuss some of his recent articles: Class 8 truck orders overperformed in the month of March for the sixth consecutive month; Nikola is still trying to move out from Trevor Milton’s dark cloud; and how companies are fulfilling the backlog of those truck orders on the manufacturing side. 

You can find more Midday Market Update episodes and recaps for all our live podcasts here.

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Kaylee Nix

Kaylee Nix is a meteorologist and reporter for FreightWaves. She joined the company in November of 2020 after spending two years as a broadcast meteorologist for a local television channel in Chattanooga, Tennessee. Kaylee graduated from the University of Oklahoma in 2018 and immediately made the Tennessee Valley her home. Kaylee creates written summaries of FreightWaves live podcasts and cultivates the social media for FreightWaves TV.