image credit: Adobe Stock

Freight markets are stuck in the doldrums

March 17, 2023


Freight demand took a bit of a beating this week as several alarms were sounded across the broader economy. The labor market continues to convey mixed signals while manufacturers are firmly pessimistic about their near-term prospects. The consumer will be key to resolving the present tension in freight demand’s future, but consumers continue to be predictably unpredictable.

This week, the Outbound Tender Volume Index (OTVI), which measures national freight demand by shippers’ requests for capacity, barely moved. OTVI dipped 2.42% on a week-over-week (w/w) basis.

Read More on FreightWaves