
FTR’s Trucking Conditions Index rose in May to 2.24 from the -1.95 reading from April due to falling diesel prices and a freight rate environment that was less negative for carriers.
“Trucking is in the initial stages of a recovery, although it might be months before market participants perceive much change. A big piece of May’s positive TCI was lower fuel costs, but freight rates also were much less unfavorable for carriers than usual since the fourth quarter of 2022. We expect rates to be mostly stable overall through late this year with spot rates leading the way. However, the capacity overhang remains large and will delay anything that could remotely be called a rebound,” says Avery Vise, FTR’s VP of trucking.
CLICK HERE to watch Avery Vise talk about the State of Transportation.
The Trucking Conditions Index represents five major conditions in the U.S. full-load truck market. These metrics are combined into a single index that tracks the market conditions that influence fleet behavior.