According to ACT Research’s most recent For-Hire Trucking Index, May’s purchase intentions remained elevated, with 61% of responding fleets planning equipment investments in the next three months.

This marked the strongest three-month reading since Q3/15. All of the purchases forecast will be for new equipment. Of the respondents who said they are not planning purchase, 7% reported plans to extend the lease on their current equipment.

Following April’s slowing growth, the volume reading advanced for the fifth consecutive month in May to 65.3, more than 20 points above the December 2016 index. Ten percent of respondents reported having significant gains, 53% percent had modest increases and 33% were flat. The remaining 4% of fleets had either significant or modest decreases.