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As the U.S. economy stuttered along in 2023 toward a hoped-for “soft landing,” trucking struggled. But many economic and trucking industry analysts believe 2024 is looking up.
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DAT Analytics reports a good November for truckload freight volumes driven by a post-Thanksgiving surge.
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American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1.1% in September after rising 0.2% in August. In September, the index equaled 113.9 (2015 = 100) compared with 115.2 in August.
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The latest release of ACT’s For-Hire Trucking Index shows continued improvement in freight volumes, pricing, and driver availability. This month’s reading still shows a gradually improving volume trend.
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If the pandemic-triggered boom times were the party, what we’ve been experiencing for the past year is the hangover, said Bob Costello, American Trucking Associations chief economist, in a session at ATA’s management conference in Austin this week.
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Truckload freight volumes fell last month and national benchmark spot rates for dry van and refrigerated loads retreated from their gains in June, reported DAT Freight & Analytics.
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LTL carriers buffeted by headwinds consider new approaches to pricing and profits.
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Several leading industry reports point toward a freight cycle that has hit bottom or will soon. DAT reports its June numbers indicate the spot rate bottom has already happened.
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A new dynamic pricing system developed by Averitt and SMC3 compares costs and real-time demand to provide accurate and serviceable shipping rates.
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Truckload freight volumes and spot rates for dry van and refrigerated loads fell for the fourth month in a row in April, according to DAT Freight & Analytics.
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