Truck Tonnage Sees Smallest Drop Since November
U.S. truck tonnage fell 7.5% in August from the same month last year, the best year-to-year showing since November 2008, American Trucking Associations said Friday.
ATA’s seasonally adjusted for-hire truck tonnage index improved 2.1% in August from July, the same increase as the previous month.
The index fell to a reading of 104.1, with the year 2000 as the base year at 100. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was 105.8 in August, down 0.5% from July.
The month-over-month increase is a “positive sign” for the trucking industry, said ATA Chief Economist Bob Costello.
“The gains in tonnage during July and August reflect a growing economy and less of an overhang in inventories,” Costello said in a statement, adding that he is hopeful that tonnage will continue an upward trend in the coming months.
“While I am optimistic that the worst is behind us, most economic indicators, including industrial output and household spending, suggest freight tonnage will exhibit moderate, and probably inconsistent, growth in the months ahead,” he cautioned.
ATA calculates the tonnage each month based on reports by its member trucking companies.
