The Outbound Tender Volume Index (OTVI) has normalized after a week of distortion due to Labor Day and rebounded back to near all-time highs. Freight volumes are following a typical post-Labor Day pattern but at a much higher level. As we have noted in previous weeks, we must account for the extremely high level of rejected tenders in OTVI by calculating the accepted tender volume index.
To remedy the distortion, we can use this simple formula to calculate the level of accepted tenders: OTVI *...