For the fourth time in the past five months the freight index rose faster than the capacity index, according to the most recent ACT For-Hire Trucking Index from ACT Research Co LLC (ACT). While the changes remain small, the data suggest that excess equipment additions relative to freight growth have come to an end, and the process of rebalancing capacity and freight is underway.
Reported purchasing intentions data showed a sharp drop in September, falling to their lowest level since February 2010. Over the last four years an average of almost 60% of respondents reported plans to purchase in a three-month window. In September, that number fell to 30%. Though the trend has been falling for the past seven months, the September reading may be an anomaly.