Freight volumes in October were disappointing according to the most recent ACT for-hire trucking index from ACT Research Co. More broadly, the October survey was in line with other reports showing softer freight conditions.
“ACT Research’s for-hire freight volume index was the lowest reading since December 2012 and the first negative October reading since the inception of our survey in 2009,” said Kenny Vieth, ACT’s president and senior analyst. “Anecdotally we are hearing that shippers are coming into the market early for bids, which underscores the softening in the supply-demand dynamic as they look to take advantage of current weakness,” he added. Forty-five percent of the fleets in the survey reported a decrease in freight in October, a time when freight should be increasing ahead of the holiday season.
ACT is the worldwide leading publisher of new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China commercial vehicle market.