ACT Research’s For-Hire Trucking Index Shows Capacity Recovering
DEC 27, 2021 - 6:43 am
ACT Research’s latest for-hire trucking index, which included November data, showed across-the-board increases.
“Led by better driver availability, the capacity index increased 6.1 points in November to 54.6 (SA), the best result since May 2019, in a sharp deviation from the trend of the past two years,” Tim Denoyer, vice president and senior analyst at ACT Research, said. “Exemptions from vaccine mandates for most truck driving jobs may aid hiring at the margin, though dock capacity will likely be strained.
“With the tempo of the holiday freight drumbeat increasing, ACT’s for-hire pricing index rose 1.1 points in November. While capacity remains tight and rates continue to rise, the increase in driver availability indicates gradual rebalancing in the market has begun.”
Regarding the supply-demand balance, Denoyer said, “November’s supply-demand balance ticked up, as volumes increased more than capacity. While down from this year’s peak of 69.2 in April, the current reading still reflects a fairly tight supply-demand environment. Significant unmet demand remains in equipment markets, and the near-term outlook for freight volume remains positive.”
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