Trucking Industry Economy Outpaces US Economy as Capacity Tightens

Trucking is providing one of the few bright spots to the flagging U.S. economy as tight capacity and a driver shortage push contract and spot rates higher across vans, flatbeds and refrigerated trucks. 

DAT Solutions said van spot load rates in September were up 28.8% compared with a year ago. They have continued to rise in October and now average $2.46 per mile, a 9-cent increase since the beginning of the month. Flatbed rates are up 9.9% year-over-year and have jumped a nickel in the past two weeks, also to $2.46 a mile. Refrigerated rates are up 19% year-over-year — and 3 cents in the past two weeks — to $2.60 per mile.

Bob Costello, chief economist at American Trucking Associations, told Transport Topics capacity in the industry is as tight as it has been in years. Read more here.