COLUMBUS, Ind. – ACT Research says its April pricing index reflects seven consecutive months of positive readings.
Though April’s ACT For-Hire Trucking Index reading showed slower growth following the previous month’s three-year high, it continues to show a clear acceleration of the growth trend, ACT reports.
“Business was definitely better in April and we expect it to continue to improve. We are losing more drivers to local jobs and the oil and gas industry. Good sign that the economy is improving,” noted one fleet surveyed by ACT Research.
Equipment purchase intentions remained elevated, with 65% of fleets planning purchases in the next three months.
“This is the strongest back-to-back reading since the third quarter of 2015,” said Kenny Vieth, ACT Research’s president and senior analyst. “Fifty-three per cent of purchases planned will be new, with 5% reporting plans to lease the equipment. Four per cent of the fleets not planning to purchase equipment reported plans to lease current inventory.”