Trucking Conditions Index at Highest Level This Year
BLOOMINGTON, IN - A measure of trucking conditions in the U.S. continues to improve, reaching a new high for the year, according to freight transportation forecasting firm FTR. Its newly released Trucking Conditions Index (TCI) measure for July continued its recent rise with a reading of 8.07. Substantial upward revisions to first quarter freight growth have helped to push full year growth projections close to 4%, said FTR. The stronger freight forecast is now reflected in the improved TCI readings which had been languishing in very modest territory. Additionally, recent revisions to U.S. second quarter gross domestic product (GDP) growth suggests that improvements in freight drivers could possibly continue, according to FTR. Along with these improvements, FTR is forecasting double digit positive TCI readings by the end of the year. "Stock market gyrations may have caused concern, but the freight market continues to chug along. Pressure to add more drivers has momentarily eased, yet freight continues to increase and rates paid to truckers are still relatively strong," said Jonathan Starks, FTR's director of transportation analysis.
