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A new index provided by FTR provides visibility on the state of the trucking market as anticipation of an economic restart grows.
The COVID-19 Truck Freight Recovery Index shows a sharp mid-March drop that has remained stable for the past two weeks, indicating a bottoming out in the spot market, FTR says. The index, a collaboration between Truckstop.com and FTR Transportation Intelligence, will allow freight professionals the ability to assess trucking activity in response to the COVID-19 pandemic and recovery from it.
“Because this is not a traditional economic recession, we are watching the dynamics in distinct phases that are unique to this crisis. The freight recovery index shows that a shutdown has been in full swing for several weeks and that freight is mostly bouncing along the bottom as everyone is sheltering at home,” said Eric Starks, chairman and CEO for FTR Transportation Intelligence. “Once we start to see things picking up, the trajectory of the restart will help us better understand whether this is a ‘U-shaped’ recovery or a ‘V-shaped’ recovery. We expect transportation metrics to be a leading indicator of the broader economic conditions.”