The TEG Road Transport Index fell marginally by 0.1 point to 126.6, representing a 0.08% drop. Despite the slight decrease, the index remained 4.4 points higher compared to November 2023.
As TEG explains, the haulage sector saw a modest 0.4-point index rise to 125.8, translating to 0.32% growth. The courier sector experienced a corresponding minor price decline, with its index dropping 0.5 points to 127.3.
The month’s performance coincided with Black Friday, which fell on November 29th. According to industry insights, the eCommerce market initially declined by 22.8% year-on-year in the week of November 17th. However, subsequent data told a more nuanced story.
MRI Software reported an 11.2% increase in UK retail footfall on Black Friday compared to the previous Friday. Analysis by Alvarez and Marsal suggested consumer enthusiasm for deals was at its highest since 2020.
TEG’s report also highlighted modest fuel price movements. Diesel prices rose 1.34p per litre to 140.47p, while remaining 11.64% lower than the previous year. Petrol saw a similar 0.84p increase to 134.8p per litre.
Independent research commissioned by FedEx indicates a potential 10.9% increase in deliveries during the festive season. The GfK Consumer Confidence index also showed a three-point rise, suggesting a potentially strong conclusion to 2024.