Freight volumes are softening but rates remain at record highs, according to ACT Research’s For-Hire Trucking Index for May.
“Consistent with some consumer-related macro softness as well as the deceleration in DAT’s load-to-truck ratios from the beginning to the end of the month, May’s Volume Index decelerated to its lowest reading since the start of the pandemic,” said Kenny Vieth, ACT’s president and senior analyst.
“Despite the drop in volume growth, we continue to witness the strongest rate environment in the survey’s history, with capacity re-engagement extraordinarily challenging as a result of driver and manufacturing constraints limiting the supply response.”
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