Transportation, Warehousing Industry to Take Nearly 30% Hit in ‘09

(Canadian Transportation & Logistics via Truck News)

Profits are expected to be down more than 20% this year across six Canadian industries covered by the Conference Board of Canada’s Canadian Industrial Profile-Autumn 2009, including transportation and warehousing.

The study found that profit levels for Canada’s transportation and warehousing industry have fallen 29% from $7.3 billion in 2008 to $5.2 billion in 2009. Officials said that the industry has been hit by diminishing global trade and manufacturing production, but is expected to experience a “robust” recovery post-recession.

The profiles, produced in collaboration with the Business Development Bank of Canada (BDC), provide a five-year outlook for the following industries: accommodation; food and beverage manufacturing; food services; retail trade; transportation and warehousing; and wholesale trade. Read more here.