BLOOMINGTON, Ind. – FTR’s Trucking Conditions Index measure for July continued to rise with a new high for the year – 8.07.
According to FTR, substantial upward revisions to Q1 freight growth have helped to push full year growth projections close to 4%. FTR is predicting double digit positive TCI readings by the end of the year.
Details of the July TCI are found in the September issue of FTR’s Trucking Update, published August 31, 2015.
“Stock market gyrations may have caused concern, but the freight market continues to chug along,” Jonathan Starks, FTR’s director of transportation analysis. “Pressure to add more drivers has momentarily eased, yet freight continues to increase and rates paid to truckers are still relatively strong. Depending on the markets that they serve, carriers are either seeing growing rates or they are only a little behind the very high rates seen last year. Continued easing of diesel prices helps with cash flow for small carriers, and Q3 should be good for both revenue and profits. There are still a large litany of issues that remain unresolved, and we will be addressing them in our annual Transportation Conference next week in Indianapolis, IN. With over 60 industry experts covering every facet of freight transportation, we will be exploring the issues surrounding the impending driver shortage, the closely related regulatory agenda, and how carriers and shippers can work together to help alleviate both of those challenges.”