Audio – US economic slowdown seen spreading

February 27, 2008

Want to get a clear sense of where the U.S. and world economies are headed?

A good place to start may be by asking the CEO of the world’s biggest trucking company, since truckers act as a leading indicator of economic activity.zollars-pic.jpg

Things aren’t looking so good right now, YRC Worldwide’s Chief Executive Bill Zollars told the Reuters Manufacturing Summit. YRC, with 900,000 customers worldwide, 66,000 employees in 80 countries, ships just about anything that will fit on a truck, and has been struggling for the last six months, Zollars told the Summit.

Housing and autos are not the only areas of weakness. Conditions are not deteriorating further, but they are “comprehensive,” he said … and they may be spreading to other parts of the world.

Zollars was one of the featured speakers at ths year’s summit, held in Reuters Chicago offices. The next Reuters summit will be the Mining and Steel Summit, held in New York, London and Sydney, Australia.

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