According to the latest Bloomberg | Truckstop survey, there’s increased optimism for carriers driven by the less challenging conditions in Q4 of last year.
“While many carriers feel that rates and demand have yet to reach optimal levels, there is growing optimism about the outlook,” says Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “We believe the trucking cycle has turned, which should drive better spot and contractual rates, as well as robust earnings for carriers this year.”
“Our latest survey results indicate that demand is stabilizing, and conditions are becoming less challenging, leading to increased optimism among carriers,” says Kendra Tucker, CEO, Truckstop. “Truckstop is dedicated to equipping carriers with the tools they need to operate more efficiently and profitably, offering innovative solutions that helps their businesses grow and adapt to industry changes.”
Key takeaways:
- Owner-operators are increasingly optimistic about the future following improved spot market conditions in Q4. Among respondents, 55% expect volume to increase over the next 3-6 months, marking a 15-point rise from Q3. Many carriers experienced a less challenging spot truckload market in Q4.
- Sentiment around rates has improved over the past three months, according to our Q4 survey, with 51% of respondents expecting an increase in the next 3-6 months—a 22-point jump. This optimism is fueled by better market conditions, as Truckstop data shows spot rates rose 1.5% in Q4 and 7.8% year-over-year. Additionally, 13% of respondents reported rate growth compared to the previous year, a five-point increase from the Q3 survey.
- Trucker sentiment about the economy has improved, with 59% of respondents believing the U.S. is in or near a recession—down from 80% in Q3 2024. Despite this more optimistic outlook, uncertainty remains, as 44% of respondents are unsure about their professional future in the next six months, a 9-point increase from the previous quarter. Further market tightening could help boost spot rates and encourage truckers to stay in the industry. Truckstop’s Market Demand Index increased 28% on average in 4Q24 from 4Q23, the fourth consecutive quarter of year-over-year gains.
