Mike
Well-Known Member
- Spot rates could rebound 4% to 6% in the second half of 2020 while contract rates could climb 2%, DAT forecasted after a year of spot rates favoring shippers.
- While truckload volumes hit a five-year high in October and spot rates were up 7.3% year-over-year, high capacity levels kept spot rates low for the month, according to DAT.
- But there are still signs the freight sector is struggling as trucking companies close up shop and announce new layoffs. The Cass Freight Index was negative for the eleventh month in a row, which it continues to say is a signal of an economic contraction.
Will trucking see a turnaround in 2020?
DAT is forecasting a rebound in trucking rates in 2020, saying spot rates could bounce back 4% to 6% in the second half of the year while contract rates could climb 2%.
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