Last April, trucking companies ordered 15,000 new trailers. This year, they ordered 300 — and the record low is a chilling sign for the consumer economy.

Orders for truck trailers crashed last month. It’s a chilling sign for the economy, as trucking is a key leading indicator. If trucking companies are ordering less equipment, it shows that they forecast retailers and manufacturers will need to move fewer goods in the coming months. Visit Business Insider’s homepage for more stories.

Trucking companies ordered the lowest number of truck trailers on record in April, according to freight forecasting firm FTR. 

Trailer orders are highly seasonal. In April, US retailers and manufacturers typically order around 20,000 trailers, according to an average of April FTR data from