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Freight Forecast: ACT Research Updates Outlook for COVID-19 and Lower Commodities

Posted by Jennifer McNealy on Apr 9, 2020 11:45:00 AM

ACT Research released the April installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report. This monthly 56-page ACT Freight Forecast report provides three-year forecasts for volumes and contract rates for the truckload, less-than-truckload and intermodal sectors of the transportation industry.

For the truckload spot market, the report forecasts rates for the next 12-15 months. This month, we introduced TL spot rates forecasts for Q2’21 and volume and contract rate forecasts in all three sectors for 2022. The Freight Forecast provides unmatched detail on the future of freight rates, helping companies across the supply chain plan their business with greater visibility and less uncertainty.

animation (15)Tim Denoyer, ACT Research’s Vice President and Senior Analyst, said, “We have further lowered our freight expectations since the mid-month update a couple of weeks ago, as the complexity of the manufacturing restart becomes clearer. The cliff event is here and now; we expect spot rates to drop more than 20% in April/May from March.”

He continued, “The pandemic has caused breakdowns in the economy not seen before in our lifetimes. Freight has adapted to past ‘new normals’ and emerged steady on a per capita basis, and likely will again, eventually, but there are some extraordinary swings coming in the next 12-18 months.”

Truckload Rate Gauge 4-9-20He concluded, “Perhaps most interesting from our standpoint is the supply-side effects, as lower demand for new equipment and downtime at the manufacturers will reduce capacity significantly over the coming year, setting up a potential capacity crunch when demand recovers.”

ACT’s 63rd seminar is scheduled for August 11-13, 2020, and will feature dealer, alternative power, and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of alternative power on the market in the near future. 

Click below to:

Get seminar information.

Access more information about ACT’s Freight Forecast, U.S. Rate and Volume OUTLOOK.

Get information about ACT’s freight-related databases.

Access March's Freight Forecast Press Release. 

Access In the News Page.

Topics: freight, freight forecast, freight rate, transportation, logistics, shipping, Press Releases, truck freight, north american trucking, commercial truck and trailer, transportation industry news, trucking, intermodal, truck freight rates, demand planning, us freight, commercial freight shipping, last mile delivery, freight rates

About ACT Research

We're the leading publisher of industry data, market analysis, and economic forecasting services for the commercial vehicle and transportation industries.

2019 Lawrence R. Klein Award Winner: Most Accurate Economic Forecast 2015-2019

  Partner to LMC Automotive and the Chinese State Information Center

  Contributor to the Blue Chip Financial and Wall Street Journal Consensus Economic Forecast


 

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