While FTR’s Trucking Conditions Index showed substantial improvement in January, the index remains in the negative.
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.
How can we reconcile recent freight market weakness with January's strong employment statistics? FTR's Avery Vise digs into the jobs numbers.
"This type of activity by fleets indicates that they are not overly concerned about an economic recession and continue to lock in build slots for the second half of 2023," FTR officials said.
Order activity for the last month of the 2022 was up over 100% versus December 2021.
FTR looks at key economic and trucking industry indicators and offers an outlook for freight transportation in 2023.
Jonathan Starks will replace Eric Starks as FTR CEO. Starks will be transitioning to chairman of the board.
At first glance, the fall of Class 8 orders might suggest some weakening in demand. Find out what factors actually put order intake as a solid end to 2022.
Sharp increases in fuel and financing costs coupled with an unfavorable trend in freight rates resulted in a major deterioration of financial conditions for trucking companies during October, FTR reports.
While Class 8 orders in November fell well off September’s 56,000-unit record, the year is still recording gains compared to 2021 levels.
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