Fitch Ratings’ report, US Transportation Trends, Spring 2019, concludes that revenue growth remains healthy for all major US transportation sectors, though recent events (involving air and port traffic volume) could level off the rate of growth for some segments in the coming months.
As for toll roads, Fitch reports, “The second half of 2018 was a mixed bag . . . , with solid 3.9% revenue growth in the third quarter falling to just 1.6% in the fourth quarter, coinciding with the slowing U.S. economy. Looking to 2019, Fitch expects rising inflation and slower but still solid GDP growth will boost traffic and toll rates throughout the country, which is good news for toll roads as they should see higher revenues in the coming months. ‘Toll roads throughout the southwest and southeast in particular should see higher revenue growth given stronger demographic trends,” said Director Scott Monroe.