ECONOMIC WATCH: Trucking conditions remained favorable in July

BLOOMINGTON, Ind. – U.S. trucking conditions remained positive through July, as the economic recovery continued and carriers enjoyed strengthening freight rates.

FTR’s Trucking Conditions Index read 2.84 in July, down from 11.35 in June but still in positive territory. It anticipates the index to remain positive through the remainder of this year and into 2021.

“The rebound we saw in June took a bit of a breather in July, but the surge yielded higher spot rates. Spot volumes and rates were stronger in August, and imbalance is at record levels,” said Avery Vise, vice-president of trucking for FTR. “The near-term outlook remains favorable for carriers, but we could see some stabilization soon. Record low retail inventories relative to sales likely are a big driver of freight demand, and August employment data showed the first real signs that significant capacity is returning.”

(Source: FTR)

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