A recent Transport Topics article sheds some light on general sentiment about the health of the economy from those who actually have an impact on it. My takeaway is that the industry is starting to get used to the presence of vague economic “threats” in the form of stock market swings, and has decided that these threats are not great enough to prevent investing in new equipment.

In a larger sense, the decisionmakers who drive our economy are tired of sitting on their hands. They’ve watched the stock markets swing up and down, and noted that those swings have had little effect on industrial output data.

As I stated in the latest Guidelines, “There are constant challenges to the world’s stock markets based on real and existential factors, but the nuts and bolts of the US economy as measured by Industrial Production continue to soldier onward more or less steadily in the face of this turmoil.”

Domestic industry has ignored the “fear and doom” style of reporting popular with mainstream news sources, and has responded to real demand for products and materials. And now, with new truck orders heading back up, the truck industry is making a positive bet on our economy.