Is the Freight Recession over?
Chart of the Week: Outbound Tender Volume Index — USA (SONAR: OTVI.USA)
After approximately nine months of flat or contracting volumes and rates, the freight market has started to change course. The national Outbound Tender Volume Index (OTVI) just had its longest stretch of positive growth this year at 31 days of year-over-year growth. During this stretch, which started on July 24, volumes averaged 2.9% higher than the same period in 2018. Prior to this, the longest consecutive period of positive YoY comps was an 11-day period preceding the May 10 Chinese tariff implementation, where volumes averaged a marginal 0.7% higher. According to the article in the freightwaves.com and its author Zach Strickland, FW Market Expert & Market Analyst
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Source and credits: freightwaves.com / Zach Strickland, FW Market Expert & Market Analyst and iTrucker / Mario Pawlowski