The FTR Trucking Conditions Index continued a recent rise by hitting a new high for 2015 with a reading of 8.07 in July.
GDP growth in the second quarter point could drive improvements in freight and FTR is forecasting double-digit positive TCI readings by the end of the year. Despite recent fluctuations in the stock market, freight is continuing to improve, FTR noted..
Pressure to add drivers has been eased, according to FTR, but freight is still increasing and pay rates for truckers are relatively strong.
“Depending on the markets that they serve, carriers are either seeing growing rates or they are only a little behind the very high rates seen last year,” said Jonathan Starks, FTR director of transportation analysis.
“Continued easing of diesel prices helps with cash flow for small carriers, and Q3 should be good for both revenue and profits," he added.