Truck Tonnage Falls 1.8% in November
Truck tonnage fell 1.8% in November from the same month last year, matching October’s year-over-year downturn, and “the freight outlook remains bleak,” American Trucking Associations said late Monday.
The decline in the group’s for-hire seasonally adjusted truck tonnage index marked the second straight year-over-year decline, following 11 straight increases.
The tonnage index gained 1.7% from October’s level, however, marking the first month-to-month increase since June, ATA said.
“Freight volumes were down substantially before any seasonality [was] taken out of the data,” said ATA Chief Economist Bob Costello, adding that he expects freight to further weaken as the economy contracts through the first half of 2009.
ATA calculates the tonnage each month based on reports by its member trucking companies.
