Recently, ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report. According to the report, lower freight costs are set to grow in 2023.

“While we lower truckload rate forecasts on supply factors, we believe the bottoming process is beginning as spot rates are now further below costs than ever before,” Tim Denoyer, vice president and senior analyst at ACT Research, said.

“This month’s report focuses on the key question of how much further spot rates can decline and concerns about diesel shortages, which could hasten the bottoming process,” Denoyer said. “Goods demand is soft and destocking is just beginning, but lower freight costs are set to be a growing disinflationary force in 2023.”