According to FTR’s Trucking Conditions Index for August, carriers saw a positive rate environment with reading of 8.31.
The sudden, devastating economic collapse caused by the COVID-19 pandemic was so unprecedented, that even seasoned economists admit it’s difficult to predict what the recovery will look like.
After a record low of -28.66 this past April, FTR’s Trucking Conditions Index jumped to a historic high to 11.35 for June, the highest in a decade.
While FTR’s Trucking Conditions Index reading for May made a comeback from a “worst-ever” level in April to a reading of -5.19, it is still not doing well from a historical perspective.
March’s Trucking Conditions Index (TCI) of -8.69 is just the start for industry, according to FTR, which predicts it will lead to the worst quarter on record.
Trucking conditions likely bottomed in mid-April, but a speedy recovery isn’t anticipated, according to FTR.
According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.
FTR’s COVID-19 Impact Heatmap has been updated to show truck load data in the spot market, providing state-level impacts on truck load volumes for four equipment types: dry van, refrigerated, flatbed, and specialized.
FTR has released the COVID-19 Impact Heatmap, which assesses the state-level rate impacts by four trucking equipment types – dry van, refrigerated, flatbed, and specialized – using Truckstop.com spot market data.
FTR said its Trucking Conditions Index in December was the highest since January 2019 and the first positive reading since 0.28 in July.
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