ACT Research: March Freight Rates Start on ‘Upswing’
MAR 15, 2021 - 6:23 am
ACT Research released the latest installment of its ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report.
“Pushing commercial vehicle demand forward, freight rates ended February at record levels, seasonally adjusted, and started March on an upswing,” Tim Denoyer, vice president and senior analyst for ACT Research, said. “With the nation’s ports backed up for months, commodity prices soaring, the manufacturing sector warming up and the housing market already in full swing, there is unparalleled visibility to strong freight flows.”
Regarding the truckload spot rate market, Denoyer said, “We see more increases on the horizon, with a very strong freight volume pipeline and Class 8 production restrained by semiconductor and other parts shortages. We see the latest federal COVID-19 relief package adding to both freight demand and the challenges of re-engaging supply, which presses our spot rate forecasts higher this month.”
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