, on continuing indications that recovery in the freight markets will be slow. The news comes on the heels of market stabilization and an unchanged outlook for 2009.
"It will take a substantial improvement in freight demand to soak up the current significant fleet equipment surplus," said Eric Starks, president of FTR. "At the moment demand for truck freight transport is still declining and is projected to bottom out in the fourth quarter. In our view, improvement sufficient to drive new equipment purchases will not occur until 2011."
Last week, FTR reported that its Trucking Conditions Index, affected by continued over-capacity, slid two points to -22, the first decline in the index since the beginning of the year.