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Despite the chronically sluggish freight market, payroll employment in for-hire trucking rose in November and was basically on par with job levels a year earlier. Or was it? FTR's Avery Vise explains.
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Why do pharmaceutical and chemicals indicators matter to the health of trucking?
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Economic indicators rarely all tell the same story, but increasingly, they are pointing to an improving economy and light at the end of the tunnel for a trucking industry beleaguered by low freight rates.
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The overall economy is performing better than many people think, but overcapacity in the trucking industry is still keeping freight rates from rising, according to FTR transportation analysts. Find out why they think we'll start seeing a slow improvement.
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Both ACT Research and FTR reported Class 8 preliminary net orders increased in January over December 2023, but taking a broader view both noted large increases in orders compared to the same time a year ago.
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Avery Vise, FTR vice president of trucking, explained why the forecaster believes we'll see a sluggish freight economy for the near future.
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The freight recession continues to bump along the bottom, with the spot market continuing to be battered by overcapacity amidst freight demand that is somewhat improved but still soft.
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While 2022 was a challenging year for trucking, there was still growth in revenue, tonnage, employment, and other areas. In mid-2023, a number of data points appear to indicate that the current freight cycle is bottoming out. How fast it will head back up is another question.
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Both ACT Research and FTR are reporting significant increases in September Class 8 truck orders over August as the 2024 order boards open.
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Preliminary analysis of Class 8 tractor orders for July seems to show an upswing, beating expectations, according to both ACT Research and FTR Transportation Intelligence.
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