US research company FTR’s Trucking Conditions Index (TCI) reading for June hit the highest level of 2015 after a 56 per cent jump from May.
According to FTR, freight growth slowed during Q2, but rates continue to show growth and margins are still good.
What's more, the company expects regulatory conditions and a continued economic recovery to fuel an accelerating index during 2016.
“It was a positive sign for [US] trucking that the index rebounded in June. May was the lowest level in three years, but June was the best month so far in 2015,” said Jonathan Starks, FTR’s Director of Transportation Analysis.
“Continued declines in fuel prices during July and August should help to keep the index elevated as the industry prepares for the fall shipping season. The fall peak may not be as strong this year but the economy continues to chug along, and contract rates are still growing versus last year.”
He added, “The truck market is quite stable at the moment and seems likely to maintain that pace until we get into 2016.”