Trucking conditions softened in June, but remain strong: FTR
Trucking conditions softened slightly in June, according to the FTR Trucking Conditions Index, but still remained “strong” with a reading of 12.61.
The index pulls together five metrics affecting the U.S. trucking industry. The pullback from 15.72 in May reflects slightly weaker freight volumes and rates. However, the index is expected to remain strong as capacity utilization is high.
FTR reports conditions for truckers may have peaked but will remain in the double-digit positive range through the remainder of the year.
“We are closing in on a full year during which market conditions were at least as favorable for trucking companies as they were at the height of the 2017-2018 truck freight market, and we expect those conditions to continue into 2022,” said Avery Vise, FTR’s vice-president – trucking. “With the pandemic potentially reemerging as an economic factor, downside risks are rising. However, a tight labor market and depleted retail automotive inventories, among other factors, should bolster freight volumes and utilization in the months ahead.”
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