Truckload spot rates — the fee shippers pay to move a shipment — are increasing dramatically this month, a welcome sign to economic analysts. The spot rate is an indication of carrier supply and shipper demand in the market.
ACT Research is reporting that truckload spot rates are on the upswing after two months of decline. The data was published in the company's Freight Forecaast, U.S. Rate and Volume Outlook report.
“Truckload spot rates experienced their first significant upswing in the past year from late November into early January, and the spread between spot and contract rates has started to tighten," said Tim Denoyer, ACT Research's vice president and senior analyst. “While market conditions remain broadly loose, we’re seeing more signs of slowing supply, key to the bottoming process.”
ACT Research is reporting that truckload spot rates are on the upswing after two months of decline. The data was published in the company's Freight Forecaast, U.S. Rate and Volume Outlook report.ACT Research
The monthly 58-page ACT Freight Forecast report provides analysis and forecasts for a broad range of U.S. freight measures, including the Cass Freight Index, Cass Truckload Linehaul Index, and DAT spot and contract rates by trailer type.
“Slowing supply is key for the US truckload market to transition from the late-cycle stage experienced in 2022 to the cycle-bottom phase which features a thinning of marginal capacity amid lower rates, preceding an early-cycle market tightening,“ Denoyer said. “Because rates are now far below costs in some cases, the market may experience both the cycle-bottom and early-cycle phases in 2023.”
The service provides monthly, quarterly, and annual predictions for the TL, LTL, and intermodal markets over a two- to three-year time horizon, including capacity, volumes, and rates. 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.
