Reported 2 days ago
The August freight market update reveals a challenging landscape for the industry, highlighted by weakened demand in housing and automotive sectors. Key insights include a 14-15% decline in national truckload volumes compared to last year, consumer spending shifts affecting freight flows, ongoing struggles in critical sectors, and rising tender rejection rates as carriers exit the market. Executives are cautious with investments and hiring due to economic uncertainty, showcasing a trend where short-term financial performance comes at the expense of future growth.
Source: YAHOO