Freight Volume Continues to Increase, Says ACT Research
The volume of freight shipped by trucks is increasing and that's a good thing for commercial tire dealers. "With tight inventories, strong U.S. consumer balance sheets, improving capex, and infrastructure stimulus in the pipeline, the fundamentals of the freight cycle remain clearly positive," says Tim Denoyer, vice president and senior analyst for ACT Research.
“As volume growth reaccelerated, ACT’s For-Hire Pricing Index increased, making July’s reading the second best since the survey’s inception in June of 2009. With the driver market still tight, new equipment production still challenged and demand still strong, the recipe is right for record rate increases.
"However, driver hiring has begun to improve since the extended unemployment curtailments started in June and response to higher driver pay rates should lead to more gradual progress.”