Trucking index up in October
The FTR Trucking Conditions Index (TCI) for October increased for the third consecutive month to minus 16.4, the highest reading since November 2008.
But the index, five truck industry statistics combined into one metric measuring the overall health of the trucking industry, remains significantly below a neutral reading of zero.
“The continued negative TCI reading is a clear sign that the transportation industry is still struggling from the steep downturn seen late last year and into 2009,” says Eric Starks, president of FTR. “Real acceleration in the trucking fundamentals that we track for this index will likely wait for a substantial recovery in volumes and capacity utilization, which we don’t expect to occur for at least another year.”