FTR’s Trucking Conditions Index for October fell to 3.17, more than a point lower than September, which saw a significant dip from the previous month when the TCI measure was double-digits positive.
Stabilizing truckload rates and a short-lived run up in diesel prices were largely responsible for a continued deterioration in trucking conditions during October.
Although the October reading was the lowest since August 2017, FTR’s outlook for trucking conditions looks stronger in the near term with the TCI rebounding to a better level for months to come.
“October’s conditions index confirms the general sense that the current cycle has peaked,” said Avery Vise, vice president of trucking. “Although we anticipate improved conditions for the remainder of 2018, and much of 2019 compared to October, we appear to be headed gradually toward neutral territory.”
Details of the October TCI are found in the December issue of FTR’s Trucking Update, published November 30. The ‘Notes by the Dashboard Light’ section addresses what FTR calls the likely return to stability in the trucking market in 2019 after a significant period of extraordinary strength.