Ontario Fleets Growing More Optimistic: OTA Survey

(Truck News)

Increasing optimism and lingering uncertainty were the main feelings expressed in the Ontario Trucking Association’s fourth quarter Business e-Pulse Survey, conducted October 5-23.

Seventy-one per cent of responding carriers felt the Canadian economy has hit bottom (up from 52% last quarter) and 64% felt the Ontario economy has bottomed out (compared to 46% last quarter). However, just 53% of respondents felt the U.S. economy has hit bottom.

The Q4 OTA survey found 41% of respondents have an optimistic outlook for the rest of the quarter while just 22% were pessimistic. That’s a big improvement from the beginning of the year when only 17% voiced optimism and 52% were pessimistic. Thirty-seven per cent of respondents are still unsure about where the industry is headed.

“Obviously, there is a growing sense that the worst is now behind us, which is a very good thing,” said OTA president David Bradley. “However, I would inject a note of caution and say that things are relatively fragile. So much of Canadian economic activity is dependent upon trade with the United States and if the U.S. economy continues to falter, then we will be impacted. That, along with the value of the Canadian dollar, continues to be the major wild card in terms of the industry outlook.” Read more here.