While the economic recovery is slowing down, the trucking industry likely won’t feel the effects as much since transportation-dependent manufacturing growth is leading the recovery. That was a conclusion offered July 23 in a freight outlook online seminar presented by FTR Associates, an economics research firm.

“Freight is growing faster than GDP (Gross Domestic Product) because of manufacturing,” said Noel Perry, managing director and senior consultant at FTR Associates.

Perry estimated weaker GDP growth of 3-3.5 percent over the next two years.

This economic recovery is slower compared with past recessions when recoveries were stronger and faster, Perry said. Causes include a weak housing market with a large inventory of unsold used housing and high unemployment.

Truckload growth is slowing as 2009’s manufacturing surge has started slowing, Perry said. Despite that, truckload freight growth exceeds the growth in the nation’s gross domestic product figure. “If manufacturing were to slow down, there would be a disproportionate effect on truck freight,” he said.

Perry estimated 200,000 trucks remain unused on the sidelines. As economic growth slows down, that number will stay high, he predicted.