BLOOMINGTON, Ind. – Trucking conditions have never been better, according to the latest FTR Trucking Conditions Index.
The February index reached its highest reading since it was developed in 1992. The Truck Loading Index is expected to grow 4-6% year-over-year into 2019.
“For carriers, there is a feeling of ‘Let the good times roll,’ and the data is backing that up,” said Jonathan Starks, chief operating officer of FTR. “We are approaching record level spot rates, freight demand remains elevated, and the economy continues to grow at a good pace. If there is any frustration, it is having to turn away loads due to a shortage of drivers. We have had record levels of trucks and trailers ordered in the first quarter of 2018 and, as that equipment is delivered, we may see some of the capacity pressures relieved. More likely is that freight demand will gradually slow over the course of the year. This can be a challenging time for carriers as they try to balance the short-term and long-term needs of the business. This freight environment won’t stay around forever, and both carriers and shippers will be striving to balance those competing requirements.”