Trucking Industry May Be Nearing End of Freight Recession

Although the trucking industry is facing a freight market recession, there are indicators that suggest it may be nearing the bottom of the downturn. Seasonally adjusted trucking ton-mile index, which implies freight demand, shows a minor rise of 0.6% from March to April 2023, yet is down 1.6% compared to April 2022. Despite this, trucking revenue remains elevated compared to pre-pandemic levels, suggesting that capacity isn't exiting as rapidly as expected. The near future likely sees the industry remaining in this trough without a significant shock event to stimulate demand.

Source: Jason Miller