US freight markets were mostly flat. For example, as shown below, the monthly freight index from the American Trucking Associations ended November, the last figure available, exactly where it began, at a level of 116.6.
That means that total tonnage moved by trucks is currently about 16.6% above where it was in the base year of 2000, which means, by the way, that the annual growth rate is well below 1% cumulatively. These seasonally adjusted volumes dipped a few percent in mid-year at the same time manufacturing activiy slowed and double dip recession fears spiked, but have rallied in the last few months.
Despite the flat freight volumes, truckload rates rose about 8.6% on the year, according to just released numbers from Cass Freight Systems, with profits soaring during the year at most carriers, as continued asset discipline paid off for the industry.
(Supply Chain Trends and Issues Article - Continued Below) |