ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report.
Tim Denoyer, ACT Research’s Vice President and Senior Analyst, said, “One decidedly different factor becoming clear in this economic recovery is that the ceiling on the capital goods cycle has been decisively broken for the first time since the late-1990s. While not as large as retail in terms of overall freight generation, capital goods spending is freight intensive, and the coming capex boom will certainly benefit freight demand in the next few quarters.”
Denoyer added, “May’s surge in the Cass Shipments Index surpassed expectations amid strong freight fundamentals, with the second-best result in its long history. Soaring freight demand has been overwhelming the industry’s capacity these past ten months, as the industry continues to cope with bottlenecks and shortages in this extraordinary recovery.”
He concluded, “While the pendulum of pricing power is clearly with the asset owners, we analyze several leading
indicators which suggest it will begin swinging back to shippers in the coming months, with rebalancing likely in 2022.”
The monthly 56-page ACT Freight Forecast report provides forecasts through 2023 for volumes and contract rates for the truckload, less-than-truckload and intermodal sectors of the transportation industry, including the Cass Shipments Index and Cass Truckload Linehaul Index®. For the truckload spot market, the report forecasts rates through 2022. The Freight Forecast provides unmatched detail on the freight rate outlook, helpingcompanies across the supply chain plan with greater visibility and less uncertainty.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry
data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
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