January Truck Tonnage Hits 3-Year High
Truck tonnage grew 8% in January from a year ago to its highest level in three years, American Trucking Associations said Wednesday.
The upturn, which was the largest since April, left the index at a reading of 117.1, ATA said in its monthly seasonally adjusted for-hire truck tonnage report. The index uses the year 2000 as its baseline reading of 100. It was the highest level since January 2008.
January’s index gained 3.8% from December, and ATA revised December’s monthly increase to 2.5%, from a previously reported 2.2%.
For all of 2010, tonnage increased 5.7% compared with the previous year. It had dropped 8.7% in 2009.
ATA Chief Economist Bob Costello said he was “very pleased” with the positive report.
“Many fleets told us that freight was solid in January, although operations were as challenge due to the winter storms that hit large parts of the country,” he said in a statement.
The report shows the economy is growing, Costello said, and he expects a good first half of 2010 in tonnage.
“At this point, the biggest threat is the recent run-up in oil prices, which could dampen consumer spending,” he cautioned.
ATA calculates the tonnage each month based on reports by its member trucking companies.
