More trucks on German highways
Truck traffic on German highways, which is considered a harbinger of the economic trend, increased again slightly in November. According to the Federal Statistical Office, the mileage of trucks with at least four axles subject to tolls on federal highways increased by 1.3 percent compared to the previous month.
This is the biggest increase since February. In October, there had still been a calendar and seasonally adjusted decline of 1.9%, the sharpest fall since December 2022. Compared to November 2022, the truck toll performance index has now fallen by 3.7%.
Europe's largest economy already has one foot in the recession after gross domestic product (GDP) shrank by 0.1% in the summer quarter. If there is a second consecutive quarterly decline from October to December, experts speak of a temporary - technical - recession.
Economists therefore keep a close eye on truck mileage on freeways: it provides very early indications of current economic trends in the industry, as economic activity also generates and requires transport services. Most experts do not expect the economy to pick up noticeably until next year.
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The increase in truck traffic on German highways, serving as an indicator of the economic situation, suggests a possible improvement in the near future. This positive trend could potentially stimulate more businesses to invest in transportation, leading to the need for more trucks. Moreover, with more trucks on the highways, we might observe a subsequent rise in demand for related services, such as fuel stations and maintenance services.
Source: www.ntv.de
