FTR\u2019s Trucking Conditions Index for March showed its first negative reading in several years, reflecting a softening environment for carriers, the freight market analyst reported.<\/p>\n
The lower reading driven by easing freight rates and sluggish, though still positive, demand. Active truck utilization and the truckload rate have also continued to ease. The weakness in truckload rates was attributed mostly to spot rates, but FTR also found that the contract rate outlook has turned slightly negative.<\/p>\n
FTR\u2019s outlook for loadings growth has been revised downward from previous forecasts with year-over-year growth now expected to be under 2%.<\/p>\n
\u201cThe trucking industry has essentially returned to neutral conditions as deterioration in most market factors are offsetting continued solid, but not robust, freight demand,\u201d said Avery Vise, vice president of trucking for FTR. \u201cWe generally expect this balance to continue into 2020, but TCI readings could turn positive or negative month to month based on relatively minor shifts in demand, utilization, rates, or costs.\u201d<\/p>\n
While orders are low, that doesn\u2019t mean the demand is not. Fleets are continuing to search for open build slots in the 2019 production schedule, according to FTR. Backlogs are fluid with orders being rescheduled, often opening up build slots in the near term.\u00a0 FTR expects this pattern to continue until ordering for 2020 begins.<\/p>\n
\u201cEconomic growth is expected to moderate soon, slowing down the freight markets,\u201d said Don Ake, FTR vice president of commercial vehicles. \u201cHowever, currently there is still a need to replace older trucks and also get more new trucks on the road.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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