Analysts hopeful that worst of freight downturn has passed

Analysts hopeful that worst of freight downturn has passed

The economic downturn wrought by the global spread of COVID-19 and corresponding state shutdown orders potentially has hit its lowest point, said analysts over the past week, as freight demand has entered recovery and is forecast to continue on….

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“If we don’t get a relapse” in coronavirus cases, “April will be the bottom” of the recent economic downturn, said Chris Pickett, chief strategy officer at Coyote Logistics. Indicators point to a recovery that’s already begun and that could continue through the end of next year, he and other analysts forecast. Fleets surveyed over the last week by CCJ are also optimistic about a freight rebound.

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