So, the Wall Street Journal is lauding the end of the 4 year trucking slump, trumpeting the increasing freight rates in recent weeks.
This is inflation marker, not an essential turn around in industry.
Truckers who held on through almost four years of slumping freight rates finally have something to celebrate.
“It feels like a breath of air for an industry that maybe felt like they were running out of air,” said Webb Estes, president and chief operating officer of Estes Express Lines, a Richmond, Va.-based carrier with revenue of about $6 billion.
Trucking executives are calling an end to one of the longest freight downturns in carriers’ memory. They say rates have risen to more sustainable levels after a period of low earnings coupled with Trump administration crackdowns on immigrant drivers pushed many carriers out of the market.
The Logistics Managers’ Index, a monthly survey of supply-chain managers, showed transportation prices increased in May at the fastest rate for any metric in the report’s 10-year history.
This is not a good thing
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