FTR’s Trucking Conditions Index (TCI) improved in July to a reading of -0.7 from the previous -3.36 principally because of falling diesel prices. Although the index was just below the index’s base of zero, it was the third consecutive month of negative readings – a situation that had not occurred since March-May 2020. FTR expects that trucking market conditions are in for a long period of moderate weakness.
Avery Vise
VP of Trucking
Avery Vise commented, “Trucking companies had a great run, but freight dynamics clearly have softened. While the economy and freight markets look more resilient than many observers fear, risks are weighted to the downside. Market weakness will not be uniform, but the type of freight is hardly the only differentiator. Carriers heavily engaged in the contract arena should continue to fare significantly better than the total market, and those that have managed to contain costs during this inflationary environment certainly will be in a better position to prosper.”
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