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Dive Brief:
- LTL rates posted year-over-year gains in April, with the Bureau of Labor Statistics’ producer price index for long-haul LTL shipments 8.2% increase year after year.
- The federal long-haul trucking index, which has been largely dormant for nearly a year, was negative 4.4% GEE.
- Recently, sweeter truck deals have led several LTL customers to consolidate shipments into TL.
Dive Insight:
LTL rates this year accelerated compared to last year, taking off especially in February when the PPI rose 3.4% year-over-year, followed by a 5.2% year-over-year jump in March.
Trucking indices contain a mix of spot and contract rates, said Scott Sager, supervisory economist with the bureau’s PPI program. Each index is derived from a sample of firms intended to represent the entire industry. The sample size is not published to preserve anonymity.
Both indices rose less than 1% month-on-month, but all PPI indicators rose it is not seasonally adjustedlimiting how much industries can infer from monthly changes.