Truck Tonnage Gains 4.4% in July
Truck tonnage jumped 4.4% in July from a year earlier, marking the eighth straight year-over-year increase, American Trucking Associations said.
Tonnage fell 0.3% from June, marking the first month-to-month decline since January, ATA said in its monthly seasonally adjusted for-hire truck tonnage index.
Year-to-date, the index was up 3.6% compared with the same period in 2007. Tonnage contracted 1.7% and 1.5% in 2006 and 2007 in that seven-month period, respectively.
ATA Chief Economist Bob Costello said July’s tonnage reading matched several anecdotal reports from motor carriers that freight was softer in July than the previous month, but cautioned that tonnage levels could be volatile in coming months, as the economy is expected to further soften before improving.
But slight declines in fuel prices and tightening capacity could help offset softer freight volumes.
ATA calculates the tonnage each month based on reports by its member trucking companies.
