The head of Covenant Logistics, a Chattanooga-based trucking company, said he has high hopes for the economy under President Donald Trump as the business set a quarterly record for revenue.
“Donald Trump is going to get this economy going nicely,” CEO David Parker said in an earnings calls this week. “I do believe that. I mean, I think he will die before he doesn’t get there. And so I think the entire government’s focus is there.”
As the trucking industry works to climb out of a slump that began about three years ago, Parker sounded an optimistic note on the future Thursday. FreightWaves CEO Craig Fuller, meanwhile, said he sees signs of improvement after a helter-skelter beginning of the year.
Parker expects the nation’s gross domestic product, the total value of goods and services made within the U.S., could hit 3% or 4% growth under Trump. He has also talked to members of the housing industry who are just waiting for interest rates to drop, Parker said.
“They think the backlog is gigantic as soon as people can afford the payments,” he said.