The index is a collaboration between FTR Transportation Intelligence and Truckstop.com and will allow freight professionals the ability to assess trucking activity in response to the COVID-19 coronavirus pandemic and recovery from it. The index dropped sharply in mid-March but has remained stable for the past two weeks, indicating a bottoming out in the spot market.
“Because this is not a traditional economic recession, we are watching the dynamics in distinct phases that are unique to this crisis. The freight recovery index shows that a shutdown has been in full swing for several weeks and that freight is mostly bouncing along the bottom as everyone is sheltering at home,” says Eric Starks, chairman and CEO, FTR Transportation Intelligence.
“Once we start to see things picking up, the trajectory of the restart will help us better understand whether this is a ‘U-shaped’ recovery or a ‘V-shaped’ recovery. We expect transportation metrics to be a leading indicator of the broader economic conditions,” Starks says.
“This new index further demonstrates the value Truckstop.com brings to the transportation and logistics industry that goes beyond facilitating the actual movement of goods,” adds Brent Hutto, chief relationship officer, Truckstop.com. “Our data offers instant visibility to transportation professionals into market trends, which is especially valuable when conditions are as volatile as they have been during this crisis.”
