Ontario Trucking Association

Ontario Trucking Association

February 02, 2010 16:35 ET

Trucking Companies Showing Cautious Optimism for First Quarter

Bellwether industry reports fourth consecutive quarter of improving optimism

TORONTO, ONTARIO--(Marketwire - Feb. 2, 2010) - There is an old saying, "If You Got It, a Truck Brought It." Truckers are usually the first in and the first out of recession. The latest Ontario Trucking Association quarterly survey of company expectations points to growing, if cautious, optimism amongst Ontario trucking companies. Seventy-three companies responded to the first quarter edition of OTA's Business e-Pulse Survey, conducted over three weeks in January.

52% of carriers said they were optimistic about the industry's overall prospects over the next three months – the first time that a majority of carriers have felt optimistic since OTA began its quarterly surveys in the 3rd quarter of 2008. Compared to a year ago, the improvement in the carriers' outlook for the industry has been significant. In the first quarter of 2009, pessimism reigned supreme at 52% of respondents and only 17% of carriers were feeling optimistic. However, the current optimism is also accompanied by a healthy dose of uncertainty and the outlook should therefore be subject to caution. 37% of respondents in the 1Q10 survey said they were unsure of the industry's overall prospects for the next three months.

"The survey results give credence to the view that the worst is over for the economy, but things remain fragile. There is still concern for the US economy, in particular southbound shipments, which also reflects upon the outlook for Ontario's export-based economy as well," says OTA president, David Bradley.

For most carriers, the recession appears to have ended sometime in the second-half of 2009. 82% of respondents feel that the Canadian economy had reached the bottom, up from 71% in the 4Q09 survey. Smaller majorities, but majorities nonetheless, feel that the Ontario and US economies (69% and 59%, respectively) had hit bottom. (The US number is up from only 47% in 4Q09).

Contact Information

  • Canadian Trucking Alliance
    Deanna Pagnan
    Policy & Communications Officer
    (416) 249-7401 ext. 247
    1-866-713-4811 (FAX)