Recovering Freight volumes

While conditions remain loose, the seeds have been sown for a rebalancing, which expects rate trends to recover. Recovering freight volumes, rates, and capacity continue to decline as unfavorable fleet conditions persist.

Inflation, while showing tentative improvement, continues to impact consumer spending power. The slow start produce season may also be a headwind.” While the broader economy continues to surprise and thus far stave off an expected recession, the freight economy is starkly different.

The goods portion of the economy is soft, and as a result, even contract truck freight is now falling, albeit not nearly as much as the spot market. Trucking Condition Index tracks the changes representing five major conditions in the U.S. truck market: freight volumes, freight rates, fleet capacity, fuel prices, and financing costs.

Recovering Freight volumes

The individual metrics are combined into an index indicating the industry’s overall health. A positive score represents good, optimistic conditions; a negative score means poor, pessimistic conditions. Readings near zero are consistent with a neutral operating environment readings in either direction suggest operating changes. While the pricing pendulum remains with shippers for now, the next capacity rebalancing has begun. With capacity slowing and set to decline later this year, rate trends should begin to recovering freight volumes.

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