Truckload pricing slipped another 0.3 percent for the month compared to January 2016, the 11th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
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Truckload rates fell 0.3 percent year-over-year in January 2017, but according to Avondale Partners Economist Donald Broughton, the negative pricing growth for the month was the smallest during the nearly year-long decline.
Truckload rates fell another 0.3 percent in January 2017 compared with the previous year, the 11th consecutive month of year-over-year declines, according to the latest Cass Truckload Linehaul Index.
The January decrease followed pricing declines of 0.6 percent in March 2016, 2.3 percent in April, 1.2 percent in May, 1.8 percent in June, 1.6 percent in July, 2.8 percent in August, 3.5 percent in September, 1.4 percent in October, 1.5 percent in November, and 0.9 percent in December.
Although the negative growth in March was the first since May 2010, pricing growth had steadily contracted over the previous 12 months, from 5.1 percent year-over-year growth in March 2015 to 3.8 percent in April, 3.5 percent in May, 3.6 percent in June and July, 3.7 percent in August, 3.2 percent in September, 1.9 percent in October, 1.6 percent in November, 1.1 percent in December, 0.4 percent in January and 0.5 percent in February.
Despite this negative trend, Donald Broughton an economist at investment firm Avondale Partners, noted the negative pricing growth in January was the smallest during the nearly year-long decline.
After an extended period of soft demand and excess capacity, “we are…seeing some improvements in pricing power of truckers,” said Broughton.
