Bloomington, Ind. — FTR’s Trucking Conditions Index improved in August to -1.39 from the reading of -5.59 in July; a return to consistent decreases in fuel prices was the biggest factor in better market conditions for carriers in August, although all factors improved at least minimally.
“Trucking is en route to more favorable conditions next year, but the road remains bumpy as both freight volume and capacity utilization are still soft, keeping rates weak,” said Avery Vise, FTR’s vice president of trucking. “Our forecasts continue to show the truck freight market starting to favor carriers modestly before the second quarter of next year.”
FTR forecasts TCI readings to remain mostly negative to neutral through the beginning of 2025.
According to a FTR press release, details of the August TCI are found in the October issue of FTR’s Trucking Update, published on September 30. Additional commentary discusses the likely divergence of active trucking capacity and the number of employee truck drivers. The Trucking Update includes data and analysis on load volumes, the capacity environment, rates, and the economy.
“The TCI tracks the changes representing five major conditions in the U.S. truck market,” FTR said in the release. “These conditions are: freight volumes, freight rates, fleet capacity, fuel prices, and financing costs. The individual metrics are combined into a single index indicating the industry’s overall health. A positive score represents good, optimistic conditions. Conversely, a negative score represents bad, pessimistic conditions. Readings near zero are consistent with a neutral operating environment, and double-digit readings in either direction suggest significant operating changes are likely.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
