July’s For-Hire Trucking Index Surges 20 Points
Big news in the For-Hire Trucking arena where the ACT Research Index indicated that July’s volume reading advanced for the seventh consecutive month to a score of 57.1
While the For-Hire Trucking Index is down from June, the freight index was almost 20 points above the reading in the same month last year. Six percent of respondents reported having significant freight gains, 49% percent had modest increases, and 19% were flat. Twenty-one percent had modest decreases while only the remaining 5% of fleets saw significant decreases.
“On a seasonally adjusted basis, freight volumes were virtually identical to last month at a 65 reading from June’s 66,” said Kenny Vieth, ACT Research’s President and Senior Analyst. He continued, “Even after being adjusted, July’s index had its third best reading over the last twelve months, and marks the third consecutive month with a reading over 60.”
The capacity index for July was 53.8 points, rising modestly above June’s reading of 52.0. “Like the volume index, seasonal adjustment raises the capacity reading to the highest level since the same month in 2015,” noted Vieth. “The rise is in-line with stronger tractor retail sales witnessed in recent months,” he concluded.
Category: Featured, General Update, News
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