The post-July Fourth trough didn’t stay for long, as tender rejection rates have climbed back to 15.9%. While this is good news for carriers, consumer spending remains cushioned only temporarily by unemployment checks, which extend only until July 31. In regions where COVID-19 cases continue to grow, lockdowns may be coming. But freight volumes weren’t the main casualty of the first lockdown.
“There are a lot of service-based industries that don’t move a ton of freight on their own,” said...
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