Fleetowner reports on mixed messages being sent by the general economic trends and freight-specific metrics. While freight capacity utilization and demand has been trending upwards, the overall economics news is less clear.

The freight picture looks something like this:

According to Jon Langenfeld, transportation analyst with investment firm Robert W. Baird & Co., a “significant” improvement in truckload utilization or loaded miles per truck is occurring; a result of ongoing capacity rationalization. “Notably, utilization is trending toward levels experienced in 2005, 2006 and early 2008 – periods of freight rate growth,” he said in Baird’s most recent “Freight Flow” report.

Though freight demand is moderating to a degree – Baird’s Freight Index was up 5.6% in July this year versus the same month in 2009, compared to 6.4% in a similar June-to-June comparison – Langenfeld pointed out that July’s 2% seasonal decline in freight volume is modestly better than the traditional 4% seasonal summer drop off.

The general economy is another story:

By contrast, the overall economic picture is gloomier. For example, the National Assn. of Realtors recently report reported that sales of previously owned homes fell 27.2% from June to a seasonally adjusted rate of 3.83 million – the lowest level since the group started tracking the data in 1999. On top of that, the Labor Department noted the U.S. unemployment rate has inched up to 9.6%.

We'll continue to keep any eye on things. While this might just be a "jobless recovery," things aren't so clear and only time will tell whether this divergence between freight metrics and economic indicators will continue.