The ITS Market Demand Index (MDI) decreased 4% to 15.86 from 16.6 the previous week. Load availability decreased 5% compared to the previous wee and truck availability increased 1%. Truck
searching decrease and the overall average equipment rate decreased slightly as well.
We did see a decrease in fuel prices though.
This week, the Federal Reserve’s Open Market Committee (FOMC) revised downward their projection for GDP growth in 2012 to 1.9-2.4%, with this revised range dropping half of a percentage point from the April projection. Coupled with weakening manufacturing indices and slowing retail sales, this presents a gloomy outlook for trucking. One brighter outlook, however, is that fuel prices should continue to fall. To see a full report of the Trans4Cast please visit: www.trans4cast.com