Commercial Vehicle Demand Robust, Says ACT Research
A new report from ACT Research says demand for commercial vehicles "is as good as it gets." The research firm's "freight-weighted GDP metric is projected to expand by a record 13% in 2021."
Kenny Veith, ACT's president and senior analyst says "robust freight markets" and other factors "pushed spot and contract freight rates to record highs in August.
"Port and railroad capacity constraints and strong demand have created large freight backlogs on the coasts and front-side industry metrics remain hot."