Trucking conditions are at among their strongest since early 2004, according to the FTR Trucking Conditions Index (TCI).
The July reading of 14.04 reflected the second strongest month the industry has seen since early 2004, and the current growth cycle is stronger in duration than in 2004, FTR reported. It predicts the index has peaked and will moderate modestly through the rest of the year.
However, the industry forecaster said key indicators – manufacturing, construction, and retail sales – remain strong and retain a positive outlook for the coming months.
“Carriers might not see stronger conditions in the current cycle, but they shouldn’t lose too much sleep over it,”
said Avery Vise, vice-president of trucking for FTR. “We expect the TCI to remain in double-digit territory into 2019. With manufacturing and construction hot and the labor market tight, it would be very difficult for capacity growth to outstrip freight demand for quite some time.”