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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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What can shifting patterns of port use and the related impact on intermodal, the spot market reaching bottom, and orders for Class 8 tractors and trailers tell us about the health of the trucking industry? Find out what FTR said in its State of Freight webinar.
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While FTR’s Trucking Conditions Index showed substantial improvement in January, the index remains in the negative.
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The rise of Class 8 truck orders in February represent a solid level of order activity, FTR said, suggesting that there may be a stabilizing in the low 20,000-unit range.
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