by Kim Souza (ksouza@talkbusiness.net)

The less-than-truckload (LTL) market is faring better but still has freight volumes below pre-pandemic levels, according to Jason Miller, logistics professor at Michigan State University, who took part in a Journal of Commerce webcast on Oct. 24.

He also said the over-the-road full-truckload market is soft at best with October spot rates down a bit from a year ago.

Miller said the earliest he sees a recovery taking shape is last in the first quarter or early in the second quarter of 2025. He said a weaker global economy does not bode well for exports and despite the higher container volume coming into the U.S. this year, there has not been an uptick in freight demand large enough to move the needle.

Freight recession likely to continue into early 2025

by Roby Brock (roby@talkbusiness.net)

The president of the Arkansas Trucking Association, Shannon Newton, has seen plenty of ebbs and flows in her career leading and working in the transportation industry.

Economists and trucking executives are calling current industry conditions a “freight recession” which is causing a cyclical adjustment for companies throughout the nation’s supply chain.

“It’s very much like a recession-recession,” Newton said of a freight recession. “I think we’ve defined it kind of as a contraction in the demand over some sort of measurable period. The industry numbers indicate a contraction demand two months in a row. What you see is essentially the freight economy leading the anticipated recession that hasn’t really come.”

https://talkbusiness.net/2023/06/trucking-industry-leader-discusses-economy-workforce-challenges/