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A look at the U.S. transportation business in 2022 is a reminder of the interconnected nature of the various sectors within the country's economy.
This is one key takeaway from the "2022 U.S. Transportation Market Outlook" recently released by Risk Placement Services (RPS). The study highlights how the transportation industry rebounded from pandemic shutdowns but, like so many other industries, is now struggling to manage costs and labor shortages in the wake of an increasingly tough financial environment. "The U.S. recorded a 0.9% decline in output during the second quarter of 2022 versus first quarter 2022, which followed a 1.6% contraction over the first three months of the year versus fourth quarter 2021," RPS analysts note in the report.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
