Transportation - Trucking: Survey Says: Demand view (63.3) ticks higher, firmly in ‘growth signal’ mode

Research evidence excerpt

Transportation - Trucking: Survey Says: Demand view (63.3) ticks higher, firmly in ‘growth signal’ mode

Accessible version

Transportation - Trucking

Survey Says: Demand view (63.3) ticks

higher, firmly in ‘growth signal’ mode

Industry Overview

Truck Shipper Survey #364, Week of June 25, 2026 26 June 2026

This week, our proprietary bi-weekly BofA Truckload Demand Indicator for shippers'

Equity0- to 3-month freight demand outlook increased to 63.3 (the third highest level

Americassince April ‘22), from 61.4 last survey. The sustained strength in our BofA Truck Road Transport/Trucking

Shipper Survey Demand Indicator (12-week avg is 62.9), and stable- to-modestly-

improving demand commentary from Truck carriers at our 33rd Annual BofA Industrials,

Transportation, and Airlines Key Leaders Conference (see Conf note), augurs well for the

long awaited cycle inflection after ~4 years of a Freight Recession. Our survey suggests

underlying demand is holding steady despite fears of demand destruction from elevated

fuel prices (which fell 7% to $72/bbl over the past week), while Inventory views are

balanced, capacity views are near all-time lows, and pricing views are near all-time highs

(on capacity removal). We view this as a strong setup with steady demand as ongoing

capacity cuts continue, and possibly indicative of some pre-shipping activity. The

Demand Indicator is up 15% yr-yr. The Capacity Indicator increased to 27.7 (from 20.5),

yet remains near its lowest levels since May 2021, highlighting the widespread impact

Ken Hoexter

of ongoing truck capacity removal. Rail carloads were up 4.1% yr-yr this week. DAT Dry Research Analyst

van spot linehaul rates (ex-fuel) increased to $2.17/mile this week, from $2.16/mile last BofAS

+1 646 855 1498

week, up 45% yr-yr.