BofA truck shipper survey shows demand outlook rises modestly

Investing.com -- Bank of America's latest truck shipper survey shows the truckload demand indicator increased to 57.4 from 56.1 in the previous survey for the week of August 20.

The demand indicator remained below the survey's historic 60 growth threshold for the second consecutive week. This follows a streak of nine consecutive issues, spanning 4.5 months, where the indicator stayed above that level.

The 2.4% sequential increase was slightly above the normal mid- to late-August seasonal uptick in the survey's 15-year history. The previous survey had underperformed seasonal patterns with a decline of 11.1% compared to an average drop of 2.9%, marking the second steepest average sequential drop in the survey's history.

The demand indicator is up 2% year-over-year. The capacity indicator increased to its highest levels since March 2026, rising 27% sequentially, but remains well below historic averages.

DAT dry van spot linehaul rates excluding fuel fell to $2.05 per mile from $2.08 per mile in the prior week. Spot rates have declined for five consecutive weeks from a peak of $2.31 per mile, but remain up 38% year-over-year. Rail carloads were up 3.8% year-over-year.

Among respondents, 38% had positive short-term demand outlooks, up from 29% in the last survey. Neutral outlooks were 43%, down from 61%, while negative outlooks were 19%, up from 10%.

The truck capacity indicator increased to 32.4 from 25.6, indicating slightly looser capacity while still significantly tighter than historic norms. The rate indicator increased to 79.7 from 76.8.

On rates, 62% of shippers expect rates to rise, compared to 61% in the last survey. Some 35% expect flat prices, up from 32%, while 3% expect rates to fall, down from 7%.

The survey included 37 shippers for views on truckload demand, supply, pricing and inventory levels.

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