The last time trucking was enjoying a really great year, the head of Peterbilt Trucks, Nick Panza, told me he kidded his sales force that "years from now you'll recall these as 'the good old days.'"

Nick was right. But the same could be said of this year. And next year. And some think a few years beyond, then, too.

That's because the word is out the good times are rolling once more for trucking. And lest we forget, the last time that could be said was way back in 1999.

The cheery outlook that got us snappin' our fingers and tappin' our toes to the beat of trucks hauling more and more freight was presented last month during Bridgestone/Firestone's commercial-tire dealer meeting in Chicago.

The Windy City was enjoying its first taste of spring after a long winter, nicely setting the stage for a very upbeat message delivered by Bob Costello, executive vp & chief economist for the American Trucking Associations.

"The economy is grower stronger," Costello stated, providing the foundation for the "best growth in truck tonnage in several years."

He said GDP (gross domestic product or value of all goods and services produced) in the U.S. grew at an annual rate of 6% from July to December '03. Costello expects that growth will be sustained at a 4.5% to 5% rate over the first quarter of this year.

Costello said this growth shows that manufacturing production is "finally seeing a turnaround." While he explained that business spending had been the "missing link" in the economy's recovery, manufacturing production "has surged since August '03 and now the factors are in place for robust [manufacturing] growth." For example, he noted that in February, production of office equipment alone jumped 23%.

"Profits are up, interest rates are low," explained Costello," and businesses are finally investing out of necessity." He said U.S. companies have little choice but to invest in the latest equipment and technology to stay productive in the face of global competition.

Costello contends that the manufacturing segment's inventory-to-sales ratio is "too lean to support a fast-growing economy." He says the upshot is to expect manufacturing growth to be "at least 5% this year."

While Costello said 2.4-million jobs have been lost due to companies moving operations overseas or simply going under, "employment has grown recently" as more displaced workers move into new jobs.

Costello said those all-important retail sales - responsible for two-thirds of our economy - will turn in a 4% to 5% growth performance this year.

Reviewing the freight market by segment, Costello said the gains are not uniform. "LTL is seeing greater growth than truckload," he stated, "but then they had experienced the longer drop."

He also pointed out that truckload operations with average hauls of over 1,000 miles have "yet to see much recovery." They "may have lost some freight to rail intermodal" during the downturn and must now win it back.

While there are other negatives for all in trucking to deal with - high and volatile fuel prices, still rising insurance rates and concern about '07 EPA-compliant engines were mentioned by Costello - the economic good times ahead cannot be overlooked.

"All groups should grow [this year] in trucking, [albeit] at different rates for the first time since 1999," Costello stated.

Although the fortunes of big trucking firms won't turn around overnight, what this means is they are at least well-positioned now to make gains.

And that means owner-operators are in a stronger position to seek higher rates, too. Even more so, company drivers are in the driver's seat to seek higher pay and/or benefits.

In other words, it's time to follow the advice of that artist now known again as Prince: "Party like it's 1999!"