Another bit of good news..
A Down Trending Market blatantly ignores good news but that doesn't mean it totally ignores it. Rather like a country mouse the market collects it and forgets it until it has enough seed.
Some good news for supply chains: 'Fluidity has improved,' BofA finds
Trucking demand seems to be decreasing: Shippers' outlook on rates, capacity, and inventory levels are reaching levels not seen since the summer of 2020, when the pandemic lockdowns sent freight volumes downward.
In a recent note to investors, Bank of America Managing Director of Trucking Research Ken Hoexter wrote that shippers' view of demand is down 26% year-year while rail carloads are up 0.2% year-over-year this week. The bank's proprietary Truckload Demand Indicator hit 57.5 — the "fifth consecutive decline, and the lowest level since June 2020."
Bank of America's survey represented views of 40 shippers across the U.S. including retail, consumer goods, and manufacturing industries.
Shippers surveyed said that truck availability has improved and that truckload has passed an inflection point. Furthermore, product is also moving better than before, signaling that "fluidity has improved."