WERN - Trucking demand soars in latest read from BofA

The proprietary bi-weekly Bank of America Truckload Demand Indicator for short-term freight demand by shippers soared to 77.6 from 75.7."This is the highest demand level since the survey peaked in late September 2020 at 78, and the 3rd highest level in survey history (started in 2012). Since hitting a mini-trough in January, the indicator is up 22% over six issues (climbing in six of past seven surveys), highlighting the rapid rebound in industrial activity post COVID-19, sustained consumer demand, and record low inventory levels."The Demand Indicator is up 105% Y/Y as it runs up against weak comparables from a year ago during the lockdown period. BofA notes that shippers' short-term positive outlooks rose to 84% from 76%, neutral outlooks declined to 11% from 19%, while negative outlooks stayed flat at 5%.Related transportation stocks: C.H. Robinson Worldwide (CHRW), Expeditors International (EXPD), FedEx (FDX), Forward Air (FWRD), Hub Group (HUBG), J.B. Hunt

For further details see:

Trucking demand soars in latest read from BofA