US trucking forced into low gear as shippers use breathing space to cut costs

Despite an improvement in August, US trucking firms are in for a slow ride as economic conditions weaken.

Meanwhile, shippers are using the breathing space to optimise networks and reduce costs, although not in a push to reduce rates to pre-pandemic levels.

US truckers rolled through August at a better clip than anticipated. The American Trucking Association’s For-Hire Truck Tonnage Index shows a 2.8% gain for the month, reversing a 1.5% slip in July. Year-on-year, the index is up 7.4%.

The Cass Freight Index for August also painted a brighter picture, showing a 3.6% increase in shipments over August 2021.