The Trucking Conditions Index, a compilation of factors affecting trucking companies, edged higher in August to a reading of 2.3. The August reading, 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%, limited driver capacity along with fleet downsizing will keep the index in positive territory through 2011.
“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,” says Eric Starks, president of transportation forecasting firm FTR Associates, which develops the index. “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”.