Trucking in 2023 bottoming out

Analytics are predicting that trucking rates are bottoming out. Some key leading indicators like internal truckload freight index and a spot rate data set, have stopped falling. Morgan Stanley’s forecasting tool is now showing that truckload spot rates will move 15% higher over the next 12 months. FreightWaves National Truckload Index shows spot rates have increased 20% from a mid-November low in 2022. But spot rates are still down 33% from the all-time highs that were set 12 months ago.

Source:
1. Analysts make divergent calls on trucking in 2023, Freight Waves, January 9, 2023. Accessed Jan 17, 2023.