US trucking rates surge as capacity falls, August data shows
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US trucking spot linehaul rates were 35.6% higher in August than a year earlier, while contract rates rose 20.1% year‑on‑year, according to US Bank’s Freight Payment Index.
Despite higher rates, spot loads fell 3.2% from July and were down 5.7% year‑on‑year, and contract loads dropped 1.3% from July and were 27.7% lower than a year earlier, with the American Trucking Associations’ chief economist noting a decline in truck tonnage over four of the past five months.