FTR’s Trucking Conditions Index (TCI) for January fell to -2.56, reversing December’s +2.67 reading. Higher diesel prices, weak freight rates and low freight volume contributed to the decline. The only positive factor was cost of capital, while volume and utilization had minor negative effects.

"January proved to be tough for carriers as we anticipated. Although we still forecast an improving market for trucking companies in the months ahead, we remain very concerned that the great uncertainty introduced by tariffs – and especially the lack of clarity over scope and timing – will chill activity and investments that drive freight demand. We do not see any impetus for further significant declines in capacity, so carriers will need stronger volumes to tighten the market and set the stage for stronger freight rates,” said Avery Vise, FTR’s vice president of trucking.

Individual industry metrics are combined into a single Trucking Conditions Index that tracks the market conditions that influence fleet behavior. This index, found in FTR's monthly Trucking Update, tracks the changes representing five major conditions in the U.S. full-load truck market. The major conditions are freight volumes, freight rates, fleet capacity, fuel price and financing.