Demand and Tonnage Declines Show Signs of Slowing
It’s been well-documented that truck driving experienced its fair share of challenges in 2016. Uncertain economic conditions, new regulations, and a focus on new technology all played a part in trucking’s tough time over the past year. But while downward trends have been observed continuously, many believe that the decline is showing signs of deceleration.
While demand and tonnage fell in October, last month showed a slowing of the plummeting rates, leading many experts to assume that the downslide had finally reached the bottom.
This wasn’t exactly unexpected – in fact, the American Trucking Associations had recently predicted that trucking would begin a positive upward move starting in 2017. A stalling of the declining rates heading into the final month of the year would put this prediction on track.
ATA Chief Economist Bob Costello noted that normal seasonal patterns don’t seem to apply in 2016. Rather than viewing the year as a barometer for the future, many are calling it an outlier which occurred due to the aforementioned factors.
Many insiders have found it difficult to become excited about the future of trucking with the negative trends as of late. But while the forecasted return is predicted to be a slow and gradual one, the halting of declining numbers has some feeling hopeful.