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FTR Shippers Conditions Index for March Improves

Bloomington, IN (May 14, 2013) FTR Associates’ Shippers Conditions Index (SCI) for March eased from February’s level of -9.5 reading to a current reading of -7.3, indicating a slightly improved but still negative environment for shippers.


FTR's Trucking Conditions Index For March Continues Favorable Trend

Bloomington, IN (May 10, 2013) FTR's Trucking Conditions Index (TCI) for March as reported in the May 2013 Trucking Update reflected improvement in an already favorable environment for trucking with an additional increase to a reading of 13.12. The TCI is designed to summarize a full collection of industry metrics, with a reading above zero indicating a generally positive environment for truckers. Readings above 10, as they are now, signal that volumes, prices, and margins are likely to be in a solidly favorable range for trucking companies.


FTR Reports a Rebound in Class 8 Orders for April

Bloomington, IN (May 2, 2013) FTR Associates has released preliminary data showing April Class 8 truck net orders at 23,026, 6% above March numbers. Orders for Class 8 trucks have now been above 20,000 for five consecutive months with April orders 37% improved from a year ago. Even with the one month dip in March orders, the last three months annualize to 270,400 units. Preliminary order numbers are for all major North American OEMs.


5/14/2013
FTR Shippers Conditions Index for March Improves

Bloomington, IN (May 14, 2013) FTR Associates’ Shippers Conditions Index (SCI) for March eased from February’s level of -9.5 reading to a current reading of -7.3, indicating a slightly improved but still negative environment for shippers.


5/10/2013
FTR's Trucking Conditions Index For March Continues Favorable Trend

Bloomington, IN (May 10, 2013) FTR's Trucking Conditions Index (TCI) for March as reported in the May 2013 Trucking Update reflected improvement in an already favorable environment for trucking with an additional increase to a reading of 13.12. The TCI is designed to summarize a full collection of industry metrics, with a reading above zero indicating a generally positive environment for truckers. Readings above 10, as they are now, signal that volumes, prices, and margins are likely to be in a solidly favorable range for trucking companies.


5/06/2013
FTR Reports a Rebound in Class 8 Orders for April

Bloomington, IN (May 2, 2013) FTR Associates has released preliminary data showing April Class 8 truck net orders at 23,026, 6% above March numbers. Orders for Class 8 trucks have now been above 20,000 for five consecutive months with April orders 37% improved from a year ago. Even with the one month dip in March orders, the last three months annualize to 270,400 units. Preliminary order numbers are for all major North American OEMs.


4/23/2013
FTR Shippers Conditions Index for February Falls Over Two Points

Bloomington, IN (April 23 2013) FTR Associates’ Shippers Conditions Index (SCI) for February fell over two points following a similar decline in January. The current reading of -9.5 reflects an expectation for increasingly difficult conditions for shippers as 2013 progresses. The SCI is forecast to be choppy over the next few months with further deterioration occurring in the second half of the year.


4/10/2013
FTR Trucking Conditions Index For February Continues Upward Trend

Bloomington, IN (April 10, 2013) FTR’s Trucking Conditions Index (TCI) for February as reported in the April 2013 Trucking Update reflected an increasingly improving outlook for trucking with another month-over-month increase of 2+ points to a reading of 12.9. The upward movement of the index is a strong sign of positive momentum in the truck industry. The TCI is designed to summarize a full collection of industry metrics, with a reading above zero indicating a positive environment for truckers.


4/10/2013
FTR Associates Hosting State of Freight Summit in Chicago

Bloomington, IN (April 9, 2013) FTR Associates takes their expertise on the road to bring an industry leading event to the city of Chicago on May 21-22, 2013. FTR will host its inaugural State of Freight Summit at the Hyatt Regency O’Hare in Rosemont, IL. The event will expand on the company’s highly successful webinar series and will provide a unique learning experience for those in the transportation industry.


4/03/2013
FTR Reports Preliminary Class 8 Orders for March Slip Marginally

Bloomington, IN (April 2, 2013) FTR Associates has released preliminary data showing March Class 8 truck net orders at 21,817 units, 4% below February. While March orders dipped somewhat from the previous month they were up 11% year over year and combined with January/February orders resulted in an annualized rate for the first three months of 2013 at 266,808 units. Preliminary order numbers are for all major North American OEMs.


3/21/2013
FTR Shippers Conditions Index for January Continues to Fall Further Into Negative Territory

Bloomington, IN (March 20, 2013) FTR Associates’ Shippers Conditions Index (SCI) for January slipped an additional two points falling to a reading of negative 7.1, reflecting deteriorating conditions for shippers in the early months of 2013.  The SCI is forecast to continue to move downward as the year progresses and is expected to reach negative double digit levels by year-end, indicating very difficult conditions for shippers...


3/14/2013
FTR Trucking Conditions Index Takes Jump in January

Bloomington, IN (March 13, 2013) FTR’s Trucking Conditions Index (TCI) for January as reported in the March 2013 Trucking Update jumped 2.2 points from the previous month to a new reading of 10.6. The upward trend in the TCI reflects improved freight growth and expectation for tighter capacity and is forecast to continue at a high level as unprecedented regulations affecting trucking utilization go into effect starting in mid-2013. Conditions through 2014 will remain in strongly positive territory with trucking companies’ ability to raise rates in a tight capacity environment a likely scenario.

The Trucking Conditions Index is a compilation of factors affecting trucking companies. Any reading above zero indicates a positive environment for truckers. Readings above 10 signal that volumes, prices, and margins are likely to be in a solidly favorable range for trucking companies.


3/13/2013
FTR cautiously optimistic about freight demand

A recent uptick in freight volume likely will continue as most fundamental drivers look positive, says the head of a leading transportation forecasting firm. One thing that doesn’t look so strong despite considerable attention is the near-term adoption of natural gas as an alternative to diesel, says Eric Starks, president of FTR Associates.

Speaking to attendees at Heavy Duty Dialogue 2013 in Nashville, Tenn., Starks said that freight was steady throughout 2012 but picked up in November and December. “It looked like raw fundamental growth that can’t be explained just by Hurricane Sandy,” Starks said. “We’re starting to get cautiously optimistic about where things are going.”


3/08/2013
Preliminary Class 8 Orders for February Continue to Improve

Bloomington, IN (March 5, 2013) FTR Associates has released preliminary data showing February Class 8 truck net orders at 23,011, a 4% increase over both January and the prior year. Orders for Class 8 vehicles have been consistently above the 20,000 mark since October 2012 with an annualized rate of 263,600 units over the last three months.  Preliminary order numbers are for all major North American OEMs.


2/25/2013
Big Truck TV Interview

FTR President Eric Starks was interviewed by Big Truck TV about the current state of the equipment market (February, 2013) .
This six minute interview answers the following questions: What is the current state of the nation’s fleet?
Are the right economic ingredients in place for truck purchasing, so fleets can meet the market demand?
Commercial vehicles with less than 600K miles are in short supply, so what does this mean for demand as manufacturers announce potential cuts?


2/14/2013
FTR Shippers Conditions Index for December Reflects Tight Truck Transportation Capacity

Bloomington, IN (February 13, 2013) FTR Associates’ Shippers Conditions Index (SCI) for December came in with a reading of -4.9 reflecting tightening capacity which is expected to get significantly worse by mid-2013. Transport costs will continue to rise as freight continues to grow and new federal regulations reducing trucking capacity kick in, with the SCI reading expected to be about five points lower than the current reading by mid-summer. The Shippers Conditions Index is a compilation of factors affecting shippers transport environment. Any reading below zero indicates a tough environment for shippers. Readings below 10 signal that conditions for shippers will be near critical levels, based on available capacity and expected rates. Details of the factors affecting the December Shippers Conditions Index are found in the February issue of FTR’s Shippers Update published February 8.


2/08/2013
FTR Trucking Conditions Index Remains at Normal Recovery Level

Bloomington, IN (February 8, 2013) FTR’s Trucking Conditions Index (TCI) for December as reported in the February 2013Trucking Update came in with a reading of 8.38 reflective of the current good environment for truckers. By mid-2013 the TCI is expected to rise significantly, caused by market tightness from expected regulatory changes and steady freight growth. The Trucking Conditions Index is a compilation of factors affecting trucking companies. Any reading above zero indicates a positive environment for truckers. Readings above 10 signal that volumes, prices, and margins are likely to be in a solidly favorable range for trucking companies.


2/06/2013
Banks No Match for Trucks Where Rigs Pay Twice as Much

Bloomberg (Feb 6, 2013) --
Robert Boyd quit his job as a bank assistant branch manager to start truck-driving school in September. He graduated in December and landed work behind the wheel of a rig at twice the pay.
Analysts project more gains as the economy expands and truckers face new limits on hours of service. The industry is more than 125,000 drivers short of what it needs to meet demand, according to FTR Associates, the Bloomington, Indiana-based freight data and forecasting firm. The shortfall probably will more than double at the end of this year to 259,000 drivers, the biggest deficit in nine years, according to an FTR forecast.


2/04/2013
FTR Reports Preliminary Class 8 Orders for January Show Improvement

BLOOMINGTON, IN --
FTR Associates has released preliminary data showing January Class 8 truck net orders at 22,235, 7% higher than December but down 11% year over year. Orders for Class 8 vehicles have been above the 20,000 mark for the past four months, showing some strength after a soft period mid-year 2012. Preliminary order numbers are for all major North American OEMs.


12/19/2012
FTR Associates Garner Awards during Annual Economic Outlook Symposium

BLOOMINGTON, IN -- Economic forecasters from FTR Associates received multiple awards Nov. 30 at the 26th annual Economic Outlook Symposium presented by the Federal Reserve Bank of Chicago. FTR forecaster awards included Best Unemployment Rate Forecast, Best Oil Price Forecast, and Best Overall Forecast.


12/18/2012
FTR Reports Shippers Conditions Index for October Improves in the Short Term Ahead of Anticipated Deterioration in 2013

Nashville, IN (December 18, 2012) FTR Associates’ Shippers Conditions Index (SCI) for October improved month over month by nearly two points to a reading of -5.0. FTR projections indicate that the current improvement will yield to a gradual deterioration in shipping conditions as 2012 ends and throughout 2013.


12/05/2012
FTR Reports Preliminary Class 8 Orders Slowed in November

Nashville, IN (December 5, 2012) FTR Associates has released preliminary data showing November Class 8 truck net orders at 19,683 units, 14% below October and down 3% year-over-year. However, November was still the second highest month for orders since March and annualize to 236,200 units. Preliminary order numbers are for all major North American OEMs.


11/19/2012
FTR Reports Shippers Conditions Index for September Unchanged from August Reading

Nashville, IN (November 19, 2012) FTR Associates’ Shippers Conditions Index (SCI) for September basically remained unchanged from August with a reading -6.9. The range where the SCI has settled indicates the current status of stable but slightly tight truck capacity. Shippers should expect to see a gradual deterioration in shipping conditions as 2012 ends and throughout 2013 as freight demand slowly improves while impending regulations restrict driver productivity and hence, truck capacity. Details of the factors affecting the September Shippers Conditions Index are found in the November issue of FTR’s Shippers Update published November 8.


11/08/2012
FTR Reports Preliminary Class 8 Orders for October Much Stronger

Nashville, IN (November 4, 2012) FTR Associates has released preliminary data showing October Class 8 truck net orders at 22,760, 50% higher than the previous month and much improved over third quarter averages. October 2012 orders were the highest since January and boost the annualized rate for the past three months to 216,000 units compared to a three-month annualized rate of just 174,400 units at the end of September. Preliminary order numbers are for all major North American OEMs.


11/02/2012
FTR Estimates Losses from Sandy Will Be Recouped

Nashville, IN (November 1, 2012) According to FTR Senior Consultant Noel Perry, his initial estimated loss of $140 million per day that the trucking industry will suffer from down time associated with Super Storm Sandy will ultimately be recouped because of associated resupply and rebuilding truck freight demands. Perry’s per day estimate of loss revenue is based on 20% of the industry not moving freight because of the storm and its aftermath.


10/12/2012
Transport Shares Showing U.S. Slowdown Due for Surprise: Freight

Bloomberg.com (October 11, 2012) The S&P 500 Index is up almost 14 percent this year while sentiment as measured by the Bloomberg Consumer Comfort Index has risen 10.5 points to minus 36.9 as of the week ended Sept. 30 from 2012’s low of minus 47.4. The early earnings announcements were “an amplification of the overall sluggish economy,” said Larry Gross, a senior consultant in Mahwah, New Jersey at FTR Associates. Domestic intermodal shipments -- those sent by both truck and rail -- are a good proxy for the Christmas season because they are “more sensitive to the cyclicality of holiday shipping,” Gross said.


10/03/2012
FTR's Trucking Conditions Index Moves Higher in August

Nashville, IN (October 3, 2012) FTR’s Trucking Conditions Index (TCI) for August, as reported in the October 2012 Trucking Update published October 1, rose 1.4 points from July to a reading of 5.8. The index has been in mildly positive territory, but without clear direction, since the economy weakened in early 2011. FTR expects trucking conditions to improve in 2013 because of modestly better economics and a strong increase in capacity utilization stemming from added constraints on trucking from Federal regulations taking effect in mid-year 2013. The Trucking Conditions Index is a compilation of factors affecting trucking companies. Any reading above zero indicates a positive environment for truckers. Readings above 10 signal that volumes, prices, and margins are in a solidly favorable range for trucking companies.


9/14/2012
FTR Reports Shippers Conditions Index Starts Expected Decline in July

Nashville, IN (September 14, 2012) FTR Associates’ Shippers Conditions Index (SCI) for July fell to a reading of -4.5 starting the expected steady decline as shippers and carriers feel the impact of increased regulatory drag heading into 2013. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


9/06/2012
FTR Reports Preliminary Class 8 Orders Rebound in August From Anemic July Numbers

Nashville, IN (September 6, 2012) FTR Associates has released preliminary data showing August Class 8 truck net orders at 15,935 units up 27% from July. While August numbers were much better than July, the month still ranks as the second lowest order month since August 2010. The annualized rate for net orders placed in the last three months comes in at just 179,300 units, well below the same period a year ago. Preliminary order numbers are for all major North American OEMs.


8/15/2012
FTR Reports Shippers Conditions Index Remains at Near Neutral Reading

Nashville, IN (August 15, 2012) FTR Associates’ Shippers Conditions Index (SCI) for June was basically unchanged from the previous month and remains in near neutral territory at a reading of -1.8. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


8/08/2012
FTR's Trucking Conditions Index Continues Downward in June

Nashville, IN (August 8, 2012) FTR’s Trucking Conditions Index for June, as reported in the August 2012 Trucking Update, continued its downward trend, declining a half point from May to a reading of 4.5. This was weaker than initial expectations. The current economy continues to increase modestly, supporting 3% tonnage growth. However, this is not enough to sustain a stronger pricing position for carriers during the summer shipping season.


8/02/2012
FTR Reports Preliminary Class 8 Orders Very Weak for July

Nashville, IN (August 2, 2012) FTR Associates has released preliminary data showing July Class 8 truck net orders at 12,568 units, the lowest month for orders since August 2010 and 32% below the same month last year.


7/16/2012
FTR Reports Improved Conditions for Shippers

Nashville, IN (July 16, 2012) FTR Associates’ Shippers Conditions Index (SCI) for May improved to a near neutral reading of 1.9. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


7/12/2012
FTR Associates Hosting State of Freight Webinar

Nashville, IN (July 12, 2012) FTR Associates is hosting an informative State of Freight Webinar on Thursday July 19 at 1:00 PM Eastern Time.


7/09/2012
FTR's Trucking Conditions Index Falls Significantly in May

Nashville, IN (July 9, 2012) FTR’s Trucking Conditions Index for May, as reported in the July 2012 Trucking Update, fell markedly from the previous month to a reading of 5.1, down nearly 4.0 points.


7/06/2012
FTR Reports Preliminary Class 8 Orders Remain Weak for June

Nashville, IN (July 6, 2012) FTR Associates has released preliminary data showing June Class 8 truck net orders at 16,195 units, the lowest month for orders since September 2010. Preliminary order numbers are for all major North American OEMs. June orders were 8% lower than May, dropping to 23% lower than the same month last year.


6/26/2012
Trucker jobs go unfilled - USA TODAY

Nashville, IN (June 19, 2012) On the front page of the Monday, June 25 issue of USA TODAY the trucking situation got some national attention and FTR's own Noel Perry was quoted in the story. Find the online version of the story here: Trucker jobs go unfilled, leading to delayed deliveries - USA TODAY.


6/19/2012
Multiple Factors Contributing to FTR's Reduced Class 8 Forecast

Nashville, IN (June 19, 2012) In the June issue of The Truck and Trailer Outlook Report, FTR Associates outlines for their subscribers a significantly reduced Class 8 production forecast beginning in the second half of 2012. The new forecast shows growth of only 3.4% this year with a decline of nearly 11% in 2013.


6/13/2012
FTR Shippers Conditions Index Unchanged for Now

Nashville, IN (June 13, 2012) FTR Associates’ Shippers Conditions Index (SCI) for April was basically unchanged from the previous month with a moderately negative reading of -5.4. The index is expected to remain in a tight range throughout the summer, potentially deteriorating marginally in the latter part of the year.


6/08/2012
FTR's Trucking Conditions Index Moves Higher in April

Nashville, IN (June 8, 2012) FTR’s Trucking Conditions Index for April, as reported in the June 2012 Trucking Update, moved significantly higher from the previous month climbing 2.7 points to a favorable reading of 9.1. The Trucking Conditions Index is a compilation of factors affecting trucking companies. Any reading above zero indicates a positive environment for truckers with readings above 10 a sign that volumes, prices and margin are in a solidly favorable range for trucking companies.


6/05/2012
FTR Reports Preliminary Class 8 Orders Remain Sluggish

Nashville, IN (June 5, 2012)  FTR Associates has released preliminary data showing May Class 8 truck net orders at 17,650 units, a modest upturn after four months of decline. Preliminary order numbers are for all major North American OEMs. May orders were only up 5% from a weak April and down a hefty 24% from the same month last year. The annualized order numbers for the past three month period, including May, now calculate to 216,700 units. This is significantly lower than the activity seen in the December through February time-frame, when order activity was running at a 308,000 annualized rate.


5/04/2012
FTR Reports Preliminary Class 8 Orders Continue Slowdown in April

Nashville, IN (May 3, 2012) FTR Associates has released preliminary data showing April Class 8 truck total net orders at 16,877 units, the lowest number since September 2010 and 55% below the same month a year ago. Preliminary order numbers are for all major North American OEM’s. April orders continue the downward trend in Class 8 orders for 2012, with annualized units for the past three months now at 234,600.


4/16/2012
FTR Shippers Conditions Index Tumbles in February

Nashville, IN (April 16, 2012) FTR Associates’ Shippers Conditions Index (SCI) for February declined by a full point from the previous month to a reading of -5.6, as demand for trucking services grew strongly in what is normally a slack month.


4/04/2012
FTR Associates Reports Preliminary Class 8 Orders for March 11% Below February

Nashville, IN (April 4, 2012)  FTR Associates has released preliminary data showing March  Class 8 truck total net orders were 11% below February at 19,682 units for all major North American OEMs.  March 2012 orders were 32% below the same month of 2011 and reflect the third consecutive month-over-month decline in Class 8 orders.


4/02/2012
FTR’s Trucking Conditions Index Holds Steady in February

Nashville, IN (April 2, 2012) FTR’s Trucking Conditions Index for February, as reported in the April 2012 Trucking Update, eased very slightly in February to a reading of 5.9. FTR forecasts the February reading to be the low point for 2012 with strong month-over-month increases through the remainder of the year as trucking freight volumes are expected to grow at rates topping 4%. This will put pressure on available capacity allowing trucking companies to maintain or even raise rates.


3/29/2012
Registration Open for FTR Associates 2012 Transportation Conference

Nashville, IN (March 29, 2012) FTR Associates (www.ftrassociates.com) has opened registration to their 8th Annual Transportation Conference being held September 18-20 in Indianapolis, IN.  Each year the attendance to this conference grows as FTR delivers on its promise to present credible, interesting and thought-provoking opinions from some of the best minds in the transportation industry.  The conference will kick off with noted Economist, William Strauss, of Federal Reserve Bank of Chicago.


3/12/2012
FTR Shippers Conditions Index for January Relatively Flat From Previous Month

Nashville, IN (March 12, 2012) FTR Associates’ Shippers Conditions Index (SCI) for January remained basically unchanged from the previous month with a reading of -4.8. The modest .2 point drop to start 2012 reflects a slow acceleration of freight growth that will continue to drive the index gradually lower over the remainder of the year. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


3/05/2012
FTR’s Trucking Conditions Index Fell Marginally to Begin 2012 But is Expected to Climb Throughout Year

Nashville, IN (March 5, 2012) FTR’s Trucking Conditions Index, as reported in the March 2012 Trucking Update, fell off marginally in January to a reading of 6.1. In spite of the lower index to start the year, FTR is forecasting a slow climb to strongly positive territory for trucking throughout 2012, with volumes and profits sufficient for investment for growth by year’s end.


3/02/2012
FTR Associates Reports Preliminary Class 8 Orders for February

Nashville, IN (March 2, 2012) FTR Associates has released preliminary data showing February Class 8 truck total net orders of 22,243 units for all major North American OEM’s. February orders were 11% below January. This was the second consecutive month of negative month-over-month and year-over-year comparisons. February orders annualize to 266,900 units and fall within the average order rate for the past nine months.


2/14/2012
FTR Shippers Conditions Index for December Improves From Previous Month

Nashville, IN (February 14, 2012) FTR Associates’ Shippers Conditions Index (SCI) for December edged up roughly 1-1/2 points from the previous month to a reading of -4.6, which still reflects a somewhat adverse environment for shippers. The small improvement reflected a slight easing in demand for transport capacity.


2/06/2012
FTR Associates Reports Preliminary Class 8 Orders for January

Nashville, IN (February 6, 2012) FTR Associates has released preliminary data showing January Class 8 truck total net orders of 24,906 units for all major North American OEM’s. January orders were down 17% month over month from December and 9% lower versus January 2011.


2/02/2012
FTR’s Trucking Conditions Index Continues Positive Trend

Nashville, IN (February 2, 2012) FTR’s Trucking Conditions Index, as reported in the February 2012 Trucking Update, increased in December to a reading of 7.0. This is the third consecutive month that the reading has increased reflecting an improving climate for truckers as U.S. economic fundamentals strengthened during Q4 of 2011.


1/11/2012
FTR Shippers Conditions Index for November Declines Reflecting Seasonal Capacity Constraints

Nashville, IN (January 11, 2012) FTR Associates’ Shippers Conditions Index (SCI) for November dropped 2.5 points from the previous month to a reading of -6.1 reflecting seasonal tightening of shipping capacity. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


1/06/2012
FTR Associates Reports Strong Bounce Back in Class 8 Orders for December

Nashville, IN (January 5, 2012) FTR Associates has released preliminary data showing December Class 8 truck total net orders for all major North American OEM’s reaching the second highest level in three years at 29,777 units. December orders were up 46% month over month, with a year-over-year increase from December 2011 of 11%, and reversed the decline of disappointing November order activity. Class 8 orders for the final three months of 2011 annualize to 312,000 units.


1/03/2012
FTR’s Trucking Conditions Index Ticks Upward Entering 2012

Nashville, IN (January 3, 2012) FTR’s Trucking Conditions Index, as reported in the January 2012 Trucking Update, increased by slightly less than two points from the previous month to a reading of 5.2 in November. The TCI has now been in positive territory for over a year. The environment for truckers remains modestly favorable with decent growth, capacity and pricing conditions.


12/15/2011
FTR Shippers Conditions Index Reflects Some Improvement for Shippers

Nashville, IN (December 15, 2011) FTR Associates’ Shippers Conditions Index (SCI) improved in October by 1.1 points from the previous month to a current reading of -3.6. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


12/03/2011
FTR Associates Reports First Year over Year Decline in Preliminary Net Class 8 Orders for November

Nashville, IN (December 3, 2011) FTR Associates has released preliminary data showing November 2011 Class 8 truck total net orders for all major North American OEM’s declined 27% from October to 20,400 units. Orders were down 22% from the same month of 2010, the first such decrease in more than a year. Order activity for the prior three month period of August, September, and October averaged 24,100 units per month.


12/02/2011
FTR’s Trucking Conditions Index Declines in October

Nashville, IN (December 2, 2011) FTR’s Trucking Conditions Index, as reported in the December Trucking Update, declined to a reading of 3.4 in October. The TCI is projected to increase as capacity conditions tighten, but the peak has been moved back from April to October of next year, reflecting the HOS regulatory delay.


11/09/2011
FTR Shippers Condition Index Shows Tougher Environment

Nashville, IN (November 9, 2011) FTR Associates’ Shippers Condition Index (SCI) fell in September by 0.9 points from the previous month to a current reading of -4.7. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


11/02/2011
FTR’s Trucking Conditions Index Rises in September

Nashville, IN (November 2, 2011) FTR’s Trucking Conditions Index, as reported in the November Trucking Update, spiked 3.1 points in September to a reading of 9.2. While improved, the TCI remains well below its recent peak of 13.3 achieved in March.


10/05/2011
FTR Associates Reports Preliminary Net Class 8 Orders Increase in September for Second Consecutive Month

Nashville, IN (October 4, 2011) FTR Associates has released preliminary data showing September Class 8 truck total net orders for all major North American OEM’s at 23,465, the second consecutive month of increasing order activity. Preliminary September orders increased 12% over August and are a 56% improvement from the same month a year ago.


9/22/2011
FTR Shippers Condition Index Resumes Declining as Expected

Nashville, IN (September 19, 2011) FTR Associates’ Shippers Condition Index (SCI) as reported in the September Shippers Update edged lower in July to a current reading of -3.8. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable. After a brief term of improving conditions for shippers, FTR’s SCI has now once again begun to fall as had been expected.


9/07/2011
FTR Associates Reports August Preliminary Net Class 8 Orders Up 11% from July

Nashville, IN (September 6, 2011) FTR Associates has released preliminary data showing August Class 8 truck total net orders for all major North American OEM’s at 20,513, an 11% increase over July. Despite this modest improvement the numbers were still down at levels not seen since October 2010. Nevertheless, the pace of orders earlier this year was so strong that annualized Class 8 orders for the six month period including August stands at 299,600 units - a significant improvement from a year ago.


8/15/2011
FTR Shippers Condition Index Improves Slightly

Nashville, IN (August 15, 2011) FTR Associates’ Shippers Condition Index (SCI) as reported in the August Shippers Update edged up in June to a current reading of -3.1. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable. Over the last three months, the index has risen from a low of -11.4 in March, indicating improving conditions for shippers as economic and freight growth slowed through late spring and early summer easing the strain on capacity and slowing the rise in rates.


8/04/2011
FTR Associates Reports July Preliminary Net Class 8 Orders Lowest Monthly Totals Since September 2010

Nashville, IN (August 4, 2011) FTR Associates has released preliminary data showing July Class 8 truck total net orders for all major North American OEM’s at 18,532, the lowest monthly total since September of 2010. July was the third consecutive month with declining order numbers showing a 12% drop off from June. However July 2011 orders were up 63% from July 2010 and annualized Class 8 net orders for the past three months, while less than the previous three-month period, still total a healthy 250,400 units.


8/02/2011
FTR’s Trucking Conditions Index Remains in Modestly Positive Territory

Nashville, IN (August 2, 2011) FTR’s June Trucking Conditions Index, as reported in the August Trucking Update, rose slightly to a reading of 7.7 from 7.3 in May. The reading is expected to remain in modestly positive territory until Q4 when it likely will resume climbing fueled by a combination of tonnage growth and constraints in the driver supply as the effect of new driver regulations kicks in.


7/18/2011
FTR Shippers Condition Index Improves for Second Consecutive Month

Nashville, IN (July 18, 2011) FTR Associates’ Shippers’ Condition Index (SCI) has moved upward again this month, signifying improving conditions for shippers. The current SCI as reported in the firm’s July Shippers Update rose to a reading of -3.6 from the -5.4 reported last month.


7/06/2011
FTR Associates Reports June Preliminary Net Class 8 Orders In Line with Seasonal Expectations

Nashville, IN (July 6, 2011) FTR Associates has released preliminary data showing June Class 8 truck total net orders for all major North American OEM’s at 20,944, down 9% from May. June is the second consecutive month of declining orders after the recent peak was reached in April of over 37,000 units ordered. However, underlying strength was still evident as orders for June were 33% higher than the same month a year ago. Orders received in the past six months annualize to 323,900 units, also reflecting strong demand for new equipment.

 


7/06/2011
FTR’s Trucking Conditions Index Stabilizes in May after April’s Decline

Nashville, IN (July 6, 2011) FTR’s May Trucking Conditions Index, as reported in the July Trucking Update, remained basically flat month over month with a reading of 7.3. The Index appears to have stabilized in solidly positive territory after April’s sharp one-month drop in response to softened economic conditions. The Trucking Conditions Index is a compilation of factors affecting trucking companies and has remained in positive territory for the past seven months. Any reading above zero indicates an adequate trucking environment with readings above 10 a sign that volumes, prices and margin are in a good range for trucking companies.


6/14/2011
In Reversal, FTR Shippers Condition Index Improves

Nashville, IN (June 14, 2011) Breaking a long term decline, in a significant reversal the FTR Associates’ Shippers’ Condition Index (SCI) as reported in the firm’s June Shippers Update improved to a reading of -5.4 from -11.4 the prior month. The healthier environment for shippers is due to a slowdown in freight demand growth thanks to the current lull in economic activity as well as further delays announced in the implementation of new Federal trucking regulations. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


6/06/2011
FTR Associates Reports Preliminary Net Class 8 Orders Fall Back in May

Nashville, IN (June 3, 2011) FTR Associates has released preliminary data showing May Class 8 truck total net orders for all major North American OEM’s at 24,063, a 37% decrease from the historically high 37,922 units reported in April. Despite this significant drop, orders were still 85% higher than prior year levels. Orders received in the past six months annualize to 337,600; significantly above the same period a year ago.


6/03/2011
FTR’s Trucking Conditions Index Moderates in April

Nashville, IN (June 3, 2011) FTR’s April Trucking Conditions Index, as reported in the June Trucking Update, fell to a reading of 7.57 from a March reading of 13.30. The primary factors driving the index down were an adjustment to FTR’s outlook for base shipping rate increases, as well as a further delay in the expected enforcement of new industry driver-related regulations. The Trucking Conditions Index is a compilation of factors affecting trucking companies and has been rising steadily since October 2010. Any reading above zero indicates an adequate trucking environment with readings above 10 a sign that volumes, prices and margin are in a good range for trucking companies.


5/13/2011
FTR Shippers Condition Index Falls Significantly

Nashville, IN (May 12, 2011) FTR Associates’ Shippers’ Condition Index (SCI) as reported in the firm’s May Shippers Update fell significantly to a reading of -11.4 reflecting tightening capacity and accelerating transport costs. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


5/10/2011
FTR Reports Preliminary Net Class 8 Orders Continue to Surge in April

Nashville, IN (May 6, 2011) FTR Associates has released preliminary data showing April Class 8 truck total net orders for all major North American OEM’s at 37,922, a 32% increase over March. April preliminary orders continue the trend of significant month over month increase. March orders were 20% above February with the annualized rate for the past three months now at 362,700 units. The figure includes U.S., Canada, Mexico and Exports.


5/06/2011
FTR's Trucking Conditions Index Continues Upward Trend

Nashville, IN (May 5, 2011) FTR’s Trucking Conditions Index, as reported in the May Trucking Update, rose to 13.30 in March from a February reading of 9.92. A key driver for the improvement in the TCI was the ability of carriers to garner higher rates as industry capacity tightened. The Trucking Conditions Index is a compilation of factors affecting trucking companies and has been rising steadily since October 2010. Any reading above zero indicates an adequate trucking environment with readings above 10 a sign that volumes, prices and margin are in a good range for trucking companies.


4/14/2011
FTR Shippers Condition Index Continues to Fall

Nashville, IN (April 13, 2011) FTR Associates’ Shippers’ Condition Index (SCI) as reported in the firm’s April Shippers Update continues to decline, reflecting tightening capacity in the trucking sector. The short term forecast for the SCI calls for continued deterioration from the current reading of -7.7 as the outlook for capacity shortages worsens. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


4/06/2011
FTR Associates Reports Preliminary Net Class 8 Orders for March Up 20%

Nashville, IN (April 6, 2011) FTR Associates has released preliminary data showing March Class 8 truck net orders for all major North American OEM’s totaled 28,871, a 20% increase over February preliminary orders and a 155% increase over the same period in 2010. The March results are a continuation of the strong trend from previous months. The figure includes U.S., Canada, Mexico and Exports.


3/11/2011
FTR Shippers Condition Index Remains in Low Territory

Nashville, IN (March 11, 2011) As reported in the March Issue of FTR’s Shippers Update, the firm’s Shippers Condition Index (SCI) remained in low territory in February with a value of -5.2. FTR expects the index to fall further as the outlook for capacity shortages worsen in the seasonally strong spring months. Total shipping costs will accelerate rapidly driven by growth in transport costs. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable.


2/28/2011
FTR's Trucking Conditions Index Continues to Improve

Nashville, IN (February 28, 2011) FTR’s Trucking Conditions Index, as reported in the March Trucking Update, rose to 9.1 in January from a December reading of 7.1. The Trucking Conditions Index is a compilation of factors affecting trucking companies and has been rising steadily since October 2010. Any reading above zero indicates a healthy trucking environment. FTR forecasts that continued economic growth combined with the impact of new safety regulations will produce sufficient freight to stress capacity sustaining an upward trend for the TCI until mid 2012.


2/15/2011
FTR Shippers Conditions Index Reflects Tightening Capacity

Nashville, IN (February 15, 2011) FTR Associates has lowered its Shippers Condition Index (SCI) to reflect tightening carrier capacity, particularly in the truckload sector. The February Issue of FTR’s Shippers Update reported that the SCI in January stood at -8.8. The SCI sums up all market influences that affect shippers; a reading above zero suggests a favorable shipping environment, while a reading below zero is unfavorable. January’s reading is the most negative (unfavorable) reading for shippers yet seen during the current recovery.


2/10/2011
Intermodal Market Share Dipped Slightly in Q4, FTR Reports

Nashville, IN (February 10, 2011) FTR Associates Intermodal Update, issued on February 7, reports that intermodal market share declined by 0.2% in the fourth quarter of 2010. The decline comes after steady increases for the previous three quarters. The fourth quarter 2010 share was 1.7% higher than the fourth quarter of 2009.


2/03/2011
January Preliminary Net Order Activity Reported by FTR Associates Shows Continued Strength

Nashville, IN (February 3, 2011) FTR Associates has released preliminary data showing January Class 8 truck total net orders for all major North American OEM’s at 27,009 units, a modest 1% increase over the strong December 2010 activity. This is a marked improvement from the 6,400 units ordered one year earlier and is an increase of 324% from January 2010.


2/01/2011
FTR’s Trucking Condition Index Increases to New High

Nashville, IN (February 1, 2011) FTR’s Trucking Condition Index rose to 7.1 in December, the highest level yet recorded during the current recovery. As reported in the February Trucking Update, the TCI reflects tightening conditions for hauling capacity. Current conditions and strong prospects going forward are expected to steadily raise this index – possibly to a new record in early 2012.


1/13/2011
FTR Shippers Condition Index Remains in Neutral Territory Entering 2011

Nashville, IN (January 13, 2011) FTR Associates Shippers Condition Index (SCI) as reported in the January issue of the Shippers Update was hovering near the neutral reading of zero at the end of 2010, reflecting the continuing effects of the earlier pause in the economic recovery.


1/06/2011
FTR Reports Strong Preliminary Class 8 Net Orders for December

Nashville, IN (January 6, 2011) FTR Associates has released preliminary data showing December Class 8 truck total net orders for all major North American OEM’s at 25,247 units, only a slight 3% drop from the strong November activity. Net order activity for the final quarter of 2010 annualized to 280,324 units. The figure includes U.S., Canada, Mexico and Exports.


12/03/2010
November Preliminary Class 8 Net Orders Highest In Over 4 Years

Nashville, IN (December 3, 2010) FTR Associates has released preliminary data showing November Class 8 truck net orders for all major North American OEM’s totaled 26,005 units, a 38% increase over October and the highest monthly order level since May 2006, over 4 years ago. November marked the fourth consecutive month over month increase in orders.


11/02/2010
FTR Reports Preliminary Class 8 Net Orders Rose in October

Nashville, IN (November 2, 2010) FTR Associates has released preliminary data showing October Class 8 truck total net orders for all major North American OEM’s at 18,386 units, a 22% increase over the previous month. October is the third consecutive month showing month over month increases.


10/12/2010
FTR's Noel Perry Talks About the Driver Shortage on CNBC

Nashville, IN (October 8, 2010) FTR Senior Consultant Noël Perry appeared on CNBC's "Street Signs" to discuss the looming shortage of truck drivers. Click Here to access a clip of his appearance.  


10/05/2010
FTR Reports Preliminary Class 8 Net Orders For September

Nashville, IN (October 5, 2010) FTR Associates has released preliminary data showing September Class 8 truck total net orders for all major North American OEM’s at 14,872 units, a 21.6% increase over the previous month and 38.8% better than September 2009.


9/30/2010
FTR’s Trucking Conditions Index Continues Upward Trend

Nashville, IN (September 30, 2010) FTR’s Trucking Conditions Index edged higher in August to a reading of 2.3. It was the sixth consecutive month that the index had been above neutral. The August Trucking Conditions Index and the current status of factors affecting the trucking industry are reported in the October issue of FTR’s Trucking Update.


9/09/2010
FTR Trucking Conditions Index Expected to Remain in Positive Territory

Nashville, IN (September 9, 2010) FTR’s Trucking Conditions Index, at 0.8 for July as reported in the September Trucking Update, is expected to remain in positive territory for the remainder of the year. It was the fifth consecutive month that the index had been above neutral.


9/02/2010
FTR Reports August Preliminary Class 8 Net Orders Similar to July

Nashville, IN (September 3, 2010) FTR Associates has released preliminary data showing August Class 8 truck total net orders for all major North American OEM’s at 12,337 units, a 8.3% increase over the previous month’s net orders and 16.8% better than August 2009.


8/04/2010
FTR "State of Freight" Webinar Replay Now Available

The FTR "State of Freight: The Uncertain Recovery - N.A. Freight Transportation Update and Outlook" webinar was hosted on July 23, 2010 at 11:00 a.m. Eastern Time. Replay is now available.


7/07/2010
FTR Reports Significant Increase in Class 8 Orders for June

Nashville, IN (July 7, 2010) FTR Associates has released preliminary data showing June Class 8 truck total net orders for all major North American OEM’s at 15,667 units, a 20.5% increase over the previous month net orders and 90.8% better than June 2009.


7/07/2010
FTR Discusses Risks to Domestic U.S. Recovery in Latest CV Outlook Report

Nashville, IN (July 7, 2010) Although recent economic data suggests U.S. economic recovery is likely on track, risks do exist according to latest commentary from FTR Associates. In their June N.A. Commercial Truck and Trailer Outlook, FTR discusses the possibility that Europe’s continued economic challenges along with the recent U.S. stock market decline and high U.S. unemployment pose real risks to the recovery.


6/22/2010
Registration Open for FTR Associates 2010 Transportation Conference

Nashville, IN (June 22, 2010) FTR Associates has opened registration to their 2010 Transportation Conference “Turning the Corner: Shifting from Survival to Growth”, being held September 14-16 in Indianapolis, IN. The transportation industry is in a critical point of the cycle; and anyone interested in freight transportation including suppliers and lessors, carriers, shippers, as well as investors and analysts, will gain clear insight into what they can expect going forward.


6/03/2010
FTR Associates Reports May Preliminary Class 8 Orders Below April

Nashville, IN (June 3, 2010) FTR Associates has released preliminary data showing May Class 8 truck total net orders for all major North American OEM’s at 12,903 units, a 9.8% decline from April. Although May orders slowed from the previous month, year over year comparisons show a 74.7% improvement over May of 2009.


5/25/2010
FTR Associates Says Fleet Hiring Capability Will Constrain Driver Supply

Nashville, IN (May 25, 2010) For fleets needing additional drivers the constraint will be in their ability to hire and train prospects from the available labor pool, according to FTR Associates’ Driver Supply Update for May.


5/10/2010
Intermodal Market Share Sets Record in Q1 2010 According to FTR Analysis

Nashville, IN (May 10, 2010) Intermodal transport’s share of U.S. long-haul truck traffic reached record highs in the first quarter of 2010 a recent analysis by FTR Associates shows. Both total intermodal movements and movements of domestic intermodal equipment reached new market share highs.


4/22/2010
Engine Changeover Dynamics Pulling Class 8 Demand Forward

Nashville, IN (April 22, 2010) In the April North American Commercial Truck and Trailer Outlook flash update FTR Associates reports strong current production but cautions that a significant portion of current demand is a short-run surge being created by the imminent onset of new EPA-compliant 2010 engines.


4/19/2010
Shorter-haul Intermodal Not Increasing in Importance, FTR Analysis Shows

Nashville, IN (April 19, 2010) The share of domestic intermodal revenue movements accounted for by moves of 1,000 miles or less has declined in the past year, a recent analysis by FTR Associates shows.


4/06/2010
FTR Associates Reports Improved Net Class 8 Order Activity for March

Nashville, IN (April 6, 2010) FTR Associates has released preliminary data showing March Class 8 truck total net orders for all major North American OEM’s at 10,505 units, 35.9% higher than February and 21.1% above March 2009.


3/31/2010
FTR Forecasts Slow Improvement in Class 8 Demand Consistent with Year Ago Projections

Nashville, IN (March 31, 2010) FTR Associates continues to forecast Class 8 demand for 2010 and 2011 at the same levels as was forecast by the firm one year ago. FTR’s March North American Commercial Truck and Trailer Outlook Report forecasts 2010 demand for Class 8 vehicles will increase just 3% over 2009.


3/03/2010
February Net Class 8 Order Activity Well Below 2009 Monthly Average

Nashville, IN (March 3, 2010) FTR Associates has released preliminary data showing February Class 8 truck total net orders for all major North American OEM’s at 7,628 units, 19.7% higher than January when orders were the lowest since 2002.


2/23/2010
FTR February Outlook for Class 8 Demand Remains Unchanged

Nashville, IN (February 23, 2010) FTR’s February North American Commercial Truck and Trailer Outlook Report continues to forecast only marginal gains for Class 8 truck demand for 2010 even as signs multiply that the demand for truck freight is beginning to improve.


2/08/2010
FTR Analysis Shows Intermodal Reaching New High in Market Share in Q4 2009

Nashville, IN (February 8, 2009) Intermodal transport gained market share against trucks in the fourth quarter of 2009, reaching a new high in the process, a recent analysis by FTR Associates shows.


2/05/2010
Net Class 8 Order Activity for January 2010 Lowest since 2002

Nashville, IN (February 5, 2010) FTR Associates has released preliminary data showing January 2010 Class 8 truck total net orders for all major North American OEM’s were 6,221 units, the lowest level since July of 2002. The figure includes U.S., Canada, Mexico and Exports. January’s order activity was down 46.4% from December and was 20.1% lower than the same month a year ago.


2/02/2010
Strengthening Freight May Lead to Higher Truck and Trailer Sales in 2011

Nashville, IN (February 2, 2010) Accelerating economic activity has led FTR Associates to increase its estimates of the amount of truck freight that was moving at year-end 2009. If sustained, the stronger freight picture will result in higher truck rates and better financial results for truckers in 2010 and higher truck and trailer sales in 2011.


1/14/2010
FTR Sees Growth in Rail Carloads Resuming Soon

Nashville, IN (January 14, 2010) FTR Associates projects in their January Rails Ahead newsletter that year-over-year growth in rail carloads will resume in the next few months, despite continued weakness through the end of 2009.


12/16/2009
Analysis Questions “Green” Benefits Of Forcing Truck Traffic Onto The Rails

Nashville, IN (December 16, 2009) The most recent analysis by Transportation Fundamentals author Noël Perry throws into question whether proposed government actions to incent greater use of freight rail will actually result in a greener transport system.


12/04/2009
Heavy Truck Equipment Demand Likely to Fall After Order Surge in October

Nashville, IN (December 4, 2009) According to the latest issue of The North American Commercial Truck and Trailer Outlook published by FTR Associates, heavy truck demand for 2010 is likely to slow after EPA 2007 engine inventory is exhausted.


11/16/2009
TCI Index Improves But Remains Well Below Neutral

Nashville, IN (November 16, 2009) The FTR Trucking Conditions Index (TCI) for October 2009 increased for the third consecutive month to -16.4, the highest reading since November 2008.


11/03/2009
FTR Reports Significant Increase in Class 8 Heavy Truck Orders for October

Nashville, IN (November 3, 2009) FTR Associates has released preliminary data showing Class 8 net orders for all major North American OEM’s totaled 21,792 units in October, reflecting a definite upsurge in order activity.


11/02/2009
Economic Recovery Has Begun

Nashville, IN (November 02, 2009) The recovery has begun according to the latest issue of The North American Commercial Truck and Trailer Outlook published by FTR Associates, but any significant freight growth is not expected until 2010 with increased orders for equipment to follow later in the year.


10/02/2009
Fourth Consecutive Monthly Increase Reflected in September Preliminary Heavy Truck Orders

Nashville, IN (October 2, 2009) FTR Associates has released preliminary data showing Class 8 net orders for all major North American OEM's totaled 10,817 units in September; the fourth consecutive month that orders have shown a month over month increase.


9/15/2009
FTR Trucking Conditions Index Shows Minimal Improvement

Nashville, IN (September 15, 2009) The FTR Trucking Conditions Index ticked up slightly in July, but at a reading of -20.18 still remains well below a neutral reading of 0.


9/11/2009
FTR Conference Message Indicates Slow Recovery For Transportation Industry

Nashville, IN (September 11, 2009) The worst is over for the freight economy, but recovery will be slow and uneven according to speakers at the recent FTR Associates Freight Transportation conference, which took place in Indianapolis, IN August 25-27, 2009.


9/04/2009
Preliminary August Heavy Truck Orders Strongest Since November 2008

Nashville, IN (September 4, 2009) FTR Associates has released preliminary data showing Class 8 net orders for all major North American OEM’s totaling 10,758 units in August, the strongest showing since November 2008.


8/18/2009
FTR Analysis Shows Domestic Intermodal Gained Market Share

Nashville, IN (August 19, 2009) Domestic Intermodal transport gained significant market share against trucks in the second quarter of 2009, a recent analysis by FTR Associates shows.


8/05/2009
Preliminary July Heavy Truck Orders Show Continued Improvement But Remain Very Weak

Nashville, IN (August 3, 2009) FTR Associates has released preliminary data showing Class 8 total net orders for all major North American OEM’s totaling 9,002 units in July 2009, an increase of 9.6% over June.


7/23/2009
FTR Reduces Heavy-Duty Truck Outlook for 2010

(July 23, 2009) Amid increasing signs that recovery in the freight markets will be slow, FTR Associates has reduced its projection for 2010 North American production of Class 8 trucks by 12%. The reduction comes even as the market continues to stabilize and the outlook for 2009 remains unchanged.


7/14/2009
FTR Trucking Condition Index Drops Slightly in May

(July 14, 2009) The FTR Trucking Conditions Index eased down two points in May to a reading of -22, reflecting the effects of continued over-capacity in the trucking industry.


6/30/2009
Commercial Vehicle Demand Picture Is Stabilizing

(June 30, 2009) Orders for heavy duty commercial vehicles are coming in as anticipated and demand is starting to stabilize, albeit at very low levels.


5/28/2009
Worst of Recession May Be Over

(May 28, 2009) In a recent report to its subscribers, forecasting firm FTR Associates reported that “recent data suggests that the worst of the recession is over”.


5/12/2009
Tough Times Will Continue For Trailer Manufacturers

Tough times will continue for trailer manufacturers through at least the end of the year and likely beyond, FTR executive tells the TTMA.



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