July Truck Tonnage Rises 4.7%
Truck tonnage rose 4.7% in July from the same month last year, American Trucking Associations said.
The index’s 125.4 reading is below June’s 125.9, which is the highest on record. ATA uses the year 2000 as a 100-reading baseline.
July’s 0.4% month-to-month dip is the first decline since May and followed June’s 0.1% gain.
The not seasonally adjusted index, which represents tonnage actually hauled by fleets, rose 3% from June.
Year to date, tonnage is up 4.7% over the same period last year, ATA said Tuesday in its monthly seasonally adjusted for-hire truck tonnage report.
“We expect solid tonnage numbers during the second half of the year as sectors that generate heavy freight, like oil and gas and autos, continue with robust growth,” ATA Chief Economist Bob Costello said.
“Home construction generates a significant amount of tonnage, but as mortgage rates and home prices rise, growth in housing starts will decelerate slightly in the second half of the year, but still be a positive for truck freight volumes,” Costello said. “Tonnage gains in the second half of the year are likely to overstate the strength in the economy as these heavy freight sectors continue to outperform the economy overall.”
ATA calculates the tonnage each month based on reports by its member trucking companies.
