ACT Research For-Hire Trucking Index Shows Driver Availability Starting to Improve



ACT Research’s latest For-Hire Trucking Index, which includes October data, showed a decrease in volumes, pricing and productivity, with capacity up slightly and with a lower but still healthy supply-demand balance.

“While the pandemic continues to cast uncertainty, the freight volume outlook remains positive,” Tim Denoyer, vice president and senior analyst at ACT Research, said. “In spite of the supply chain constraints, retailers have managed to stock up ahead of the holidays, the consumer balance sheet is strong and massive restocking demand remains ahead.

“The most critical survey takeaways this month revolve around the driver market, with the Driver Availability Index improving considerably in October as it became clear that most fleets will be exempt from proposed federal vaccine rules. The large fleets who train the vast majority of the industry’s drivers would be impacted by the mandate, though it appears only driver schools and team drivers will fall outside of the exemptions. We see ongoing supply chain turgidity limiting capacity growth, but the pace of hiring is gradually improving, which will be key to the rate trajectory.”

Regarding the supply-demand balance, Denoyer said, “We continue to see a slower-than-normal rebalancing in U.S. trucking markets, featuring record rate increases. Equipment capacity is tight, as Class 8 tractor and trailer sales are constrained by parts shortages, leaving immense unmet demand. With some structural driver issues likely to outlast the pandemic and a generally positive freight outlook, we do not expect the market to loosen quickly.”


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com