Truck freight market data highlighted decline in shipment and spending
As speculation swirls about the trucking market’s eventual recovery, the latest data, published Tuesday, serves as a reality check.
The truck freight market continued to wane during the first quarter of the year, the U.S. Bank Freight Payment Index revealed.
It showed a decline from both the final quarter of 2023 and a year earlier. Spending by shippers dipped by almost 28% from Q1 of 2023, and around 17% from Q4 of 2023. Shipments were also down by more than 21% year-over-year for the quarter.
