BLOOMINGTON, Ind. – Trucking conditions deteriorated in March, marking the start of negative Trucking Conditions Index readings that will likely lead into the worst quarter on record, FTR reports.
FTR is projecting by far the worst monthly reading in April, due to lockdowns related to the Covid-19 pandemic. The industry forecaster does not anticipate any positive readings for truckers until mid-2021.
“Despite a brief grocery restocking surge, overall trucking market conditions in March were the worst since the Great Recession,” noted Avery Vise, vice-president of trucking for FTR. “However, once we have all the data for April, March will seem like the good ol’ days by comparison. Trucking conditions certainly will improve beyond April, but the outlook remains uncertain both in demand and capacity as consumers, businesses, and trucking companies navigate an unprecedented contraction-and-restart dynamic that is further complicated by an ongoing health crisis and enormous financial support from Washington.”
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