Trucking conditions deteriorated in November from a record high, according to the latest FTR Trucking Conditions Index (TCI).
The November reading of 10.26 remains strong, as rising freight rates feed robust trucking conditions, FTR reported, but it expects the index to ease into single digit positive territory through 2021, reflecting a healthy and stable truck freight market.
“Market conditions for trucking companies remain quite strong, and they should be for months to come. Economic indicators still point to strength in freight demand, and total spot volume is holding at record levels,” said Avery Vise, FTR’s vice-president of trucking.
“Although consumer spending has stabilized, the industrial sector is beginning to build some momentum. Also, the latest help from Washington at a minimum should keep consumer spending from falling in the near term. Meanwhile, constraints on the driver supply related to the pandemic – fewer new drivers trained and significantly reduced U.S. labor participation – likely will keep capacity tight through most of the year at least.”