FTR’s Trucking Conditions Index for June fell to -6.29 from the previous -3.75, reflecting modestly weaker market conditions for carriers. Freight rates were slightly less negative, but all other key factors deteriorated, according to FTR’s latest Trucking Update. June’s TCI reading was the most negative since November.

“Based on our assessment, for-hire trucking companies have already faced the longest period of consistently unfavorable market conditions since the Great Recession,” Avery Vise, vice president of trucking at FTR, commented. “We expect negative TCI readings to continue for nearly a year longer and little, if any, improvement until early 2024. As we have noted before, the challenges are not uniform as the current market is hitting small carriers much harder than larger ones, especially considering the recent upturn in diesel prices.”