ACT Research: Spot Rates Now Further Below Costs Than Ever Before
ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report.
Tim Denoyer, ACT Research’s Vice President and Senior Analyst, said, “While we lower truckload rate forecasts on supply factors, we believe the bottoming process is beginning as spot rates are now further below costs than ever before.”
He added, “This month’s report focuses on the key question of how much further spot rates can decline and concerns about diesel shortages, which could hasten the bottoming process. Goods demand is soft and destocking is just beginning, but lower freight costs are set to be a growing disinflationary force in 2023.”
The monthly 56-page ACT Freight Forecast report provides forecasts through 2024 for volumes and contract rates for the truckload, less-than-truckload, and intermodal sectors of the transportation industry, including the Cass Shipments Index and Cass Truckload Linehaul Index®. For the truckload spot market, the report forecasts rates through 2022. The Freight Forecast provides unmatched detail on the freight rate outlook, helping companies across the supply chain plan with greater visibility and less uncertainty.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
ACT’s 68th Seminar is scheduled for February 21–23, 2023. Look for more details on this event over the coming months and save the date for February’s event. When details are available, they may be found at www.actresearch.net.
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For more information about ACT’s Freight Forecast, U.S. Rate and Volume OUTLOOK, please click here.
Click here for information about ACT’s freight-related databases.