Tonnage Rises 6.9% in August to All-Time High
American Trucking Associations’ advanced seasonally adjusted tonnage reached another all-time record last month, rising 6.9% year-over-year to 126.9 as trucking activity continued to improve.
The previous peak of the index was 125.9 in June. The year-over-year gain, the largest monthly rise since December 2011, pushed tonnage up 5% for the first eight months of the year.
On a sequential basis, tonnage rose 1.4% in August, following a decline of 0.6% in July compared with June, when the previous record was set.
“The strength in tonnage continued again in August, with the index increasing in three of the last four months,” ATA Chief Economist Bob Costello said in a statement. “The improvement corresponds with a solid gain in manufacturing output during August reported by the Federal Reserve last week.”
Costello attributed the tonnage improvement to continued strength in several economic sectors that generate heavy freight — autos, energy production and housing.
“Tonnage’s strength in recent months, and really through 2013, is probably overstating the robustness of the economy and trucking generally,” Costello said. “Truckload industry loads have accelerated the last few months, but are flat for the year, while less-than-truckload shipments are up less than 1.5% in 2013.”
