FTR announced Thursday, Sept. 30, that its Trucking Conditions Index edged higher in August to a reading of 2.3. The Trucking Conditions Index is a compilation of factors affecting trucking companies; and the August reading, which is the sixth consecutive reading in positive territory, reflects a healthy environment for trucking.
Strong manufacturing increases have generated truck freight above GDP. Expected freight growth of 4 percent, limited driver capacity and fleet downsizing will keep the index in positive territory through 2011. The August Trucking Conditions Index and the current status of factors affecting the trucking industry are reported in the October issue of FTR’s Trucking Update (www.ftrassociates.com/truckingupdate).
“Conditions for trucking are positive in spite of sluggish growth in the overall economy because manufacturing, which generates freight, is growing much more rapidly than services,” said Eric Starks, president of FTR. “The freight growth along with capacity shortages we have been forecasting bodes well for trucking companies over the next couple of years at a minimum.”
The October Trucking Update, which includes commentary concerning the worsening driver shortage in a high unemployment environment, is published monthly as part of FTR’s Freight Focus Series and reports data that directly impacts the activity and profitability of truck fleets. As part of the Trucking Update, FTR forecasts expected trends in this data and the probable short and long-term consequences.