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FTR’s May Trucking Conditions Index Bounces Back Sharply from April Low But Still Negative

07.15.20 | FTR

FTR’s Trucking Conditions Index reading for May rebounded from its worst-ever level in April to a reading of -5.19. While much improved, May’s reading is quite negative from a historical perspective. A sharp increase in freight was primarily responsible for the improvement as rates and utilization were still weak.
 
Consumers led the way as May brought the expected rebound in freight indicators. A less-negative industrial production forecast is the main contributor to a firmer freight outlook for the balance of 2020.
 
Details of the May Trucking Conditions Index (TCI) are found in the July issue of FTR’s Trucking Update, published June 30th. Additional commentary provides updates on the impacts of the COVID-19 pandemic and expectations for recovery. Beyond the TCI and FTR’s COVID-19 intelligence, the Trucking Update includes data and analysis on load volumes, the capacity environment, rates, costs, and the truck driver situation.

 

Click here to view a Year over Year graph of the TCI >


Avery Vise, vice president of trucking, commented, “The spot market is the strongest in two years, which certainly suggests upside to our current outlook. However, the recent increases in COVID-19 cases in some large U.S. states means that we are not out the woods yet as some states are moderating their reopening and many universities and school systems remain uncertain about their plans. We are also concerned that the recovery to date is fueled substantially by unprecedented financial assistance from Washington and that further such assistance might be necessary to keep the economy on track.”
 
Read a more in-depth explanation of the Trucking Conditions Index 

 
Weekly Trucking Market Update
In addition to the monthly updates on trucking conditions, FTR offers a weekly Trucking Market Update on the State of Freight Podcast. The weekly update, hosted by Avery Vise, covers spot market and economic indicators and major industry developments. To listen to recent episodes and download the accompanying graph package, go to www.FTRintel.com/podcast

 
Three reasons to use our Trucking Update service

  • We provide you the data that directly impacts the activity and profitability of truck fleets.
  • Our economic and freight forecasts help you develop freight budgets and assist in rate negotiations.
  • The charts and analysis by our team of experts provide C-suite leadership with reliable industry summaries

Plan with confidence - download a sample report >
 


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