FTR Associates has further decreased its 2009 and 2010 truck and trailer projections as it said the U.S. has still not reached economic bottom, with the trucking industry experiencing sharp drops in freight volume not seen since the lowest point of the 1982 recession.
FTR said it expects year-over-year tonnage freight to bottom out at -10.3% in the second quarter before slightly improving to -6.6% in the fourth quarter. This will mean steadily increasing pressure on rates this summer and should result in very low truck production numbers throughout 2009.
“The continued economic deterioration puts us on course for a -10% freight year,” said Eric Starks, FTR president. “The worst market in a generation.”
