According to FTR’s Trucking Conditions Index for August, carriers saw a positive rate environment with reading of 8.31.
“The stress on freight markets from replenishing retail inventories following the contraction continues and is keeping rates strong for carriers,” said Avery Vise, vice president of trucking.
Aside from June, August resulted in the highest index since March 2018. But, FTR expects the TCI to fall somewhat in September and continue to lower into Q4 and 2021, but stay in the positive.
“The more industrially focused segments have not benefitted as much so far, but we are beginning to see signs of stronger demand, and the housing market is robust. Although high unemployment and uncertain support from Washington remain risks, we expect trucking conditions to remain strong for a prolonged period,” added Vise.