Freight Forecast: Recovery into Constrained Capacity Driving Rates to New Highs
ACT Research released the September installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report.
Tim Denoyer, ACT Research’s Vice President and Senior Analyst, said, “The nearly two-year freight recession is finally ending, but the pace of capacity re-engagement is excruciatingly slow for shippers, hindered by unprecedented, if fading, stimulus.
He continued, “Truckload capacity has been tight for a few months, and intermodal capacity tightness added fuel to the fire in August with West Coast imports surging. Next comes spillover into LTL.
Denoyer concluded, “Improving freight demand from services-to-goods substitution has left inventories in need of restocking. With freight demand improving and drivers uniquely short, higher freight rates are a one-way bet at this point, and higher driver pay isn’t far off.”
The monthly 56-page ACT Freight Forecast report provides three-year forecasts for volumes and contract rates for the truckload, less-than-truckload and intermodal sectors of the transportation industry. For the truckload spot market, the report forecasts rates for the next 12–15 months, and this month introduced a forecast for Q4’21. 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.
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