Tomorrow from 2 to 3 p.m. FreightWaves CEO Craig Fuller and Chief Economics Ibrahiim Bayaan will present our November Market Update: What the Data is Telling Us About the Freight Market. The webinar is sponsored by Convoy. Click here to register.
This year’s freight markets were exceptionally volatile. National tender rejection rates (OTRI.USA) peaked at over 27% in February before plunging to 19% in May, climbing back to 25.8% at the end of August, then deteriorating the rest of the year. Spot rate seasonality was also pronounced this year: dry van spot rates from Los Angeles to Dallas (DATVF.LAXDAL) climbed 78% from March to July, fell 25% from July to September, then regained 43% from September to the present.
Our market update webinars analyzed these patterns on a monthly basis, incorporating macro-economic data as it was released as well as freight market dynamics. As this year draws to a close, our experts turn their attention to 2019 and use a combination of historical trends and forward-looking data to
Fuller and Bayaan will discuss recent performance in freight demand and capacity, offer an update on trade policy and upcoming risks, lay out our 2019 economic outlook, and go through regional trends, covering markets from Southern California to the Mid-South and Northeast.
“Next year, the combination of a moderating economy and expanding capacity should relieve some of the stress on freight markets,” Bayaan said.
We know that tariff pull-forward distorted the shape of the fall and holiday shipping surges, but how will Q1 volumes be affected? Which segments of the economy are still performing robustly, which areas are beginning to soften, and how does that impact the growth picture for next year? Fuller and Bayaan will field these questions and more during tomorrow’s conversation.
“Consumer spending remains an important driver of the U.S. economy, but we’re seeing a number of industrial signals suggesting that we’re near the end of the cycle,” said Fuller.