Truck Tonnage Retreats in November After October Gain
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Trucking activity contracted in November after an October increase, as the freight market continues to show instability, American Trucking Associations reported.
The ATA For-Hire Truck Tonnage Index decreased 1.8% to 112.5 in November from 114.6 in October. The index is down 1% compared with November 2023.
“The frustratingly choppy freight environment continued in November,” ATA Chief Economist Bob Costello said. “Since hitting a low in January of this year, tonnage is up a total of 1.1%, but the path has been fraught with nice gains one month only to come back down the next. The good news is that the overall trend this year is up, albeit at a slow rate.”
Before seasonal adjustments, the raw tonnage index dropped 9.6% to 109.6 in November compared with October.
The November decrease follows a revised 1.2% gain in October.
(American Trucking Associations)
ATA calculates the tonnage index based on surveys from its membership, with the data primarily reflecting contract freight rather than spot market freight. The index uses 2015 as a base year of 100.
Industry analysts expect gradual improvement in freight conditions through 2025, as the market works to correct the current mismatch between demand and capacity. While uncertainty remains around various economic factors, including potential trade policy changes, experts anticipate the freight environment will strengthen modestly, particularly after the first quarter of the new year.
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