Industry figures indicate that the trucking industry may be on the road to recovery as volumes recorded by DAT posted an 11% growth.
Similarly, the American Trucking Association’s (ATA) seasonally adjusted truck tonnage index rose nearly 6% from last month to almost 142%, a tad less than the record set last February.
“With moderate economic growth forecasted, truck freight will improve as progress is made with the inventory overhang,” Bob Costello, ATA chief economist, noted.
Still, Costello said one month of positive growth does not constitute full recovery for the trucking companies. According to him, the freight business will remain volatile until excess inventories are eased out of the North American retail and manufacturing supply chains.
Werner Enterprises chief financial officer John Steele likewise told analysts that the recent volumes are “relatively stable” but could not yet be strictly classified as “strong.”
