ATA Tonnage Index Down; Optimism Still in the Air

After rising 1.9 percent in January, the American Trucking Associations' advance seasonally adjusted For-Hire Truck Tonnage Index slipped 0.5 percent in February

, landing at 108.5 (2000=100). However, the index was up 2.6 percent from February 2009, the third straight year-over-year gain.

According to Bob Costello, ATA chief economist, the tonnage reading may have been affected by the severe winter storms that impacted truck freight movements during the month, particularly on the East Coast. However, he remains optimistic about the recovery for the industry.

"I continue to hear from motor carriers that both the demand and supply situations are steadily improving," he said. "Certainly it will take a while to make up the ground lost during the recession, but the industry is on the path to recovery." Costello said he expects to see some volatility on a month-to-month basis throughout this year, but the industry should expect moderate growth.

For the first two months of 2010, SA tonnage was up 3.5 percent compared with the same period last year. For all of 2009, the tonnage index decreased 8.7 percent, the largest annual decrease since 1982.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was at 97.6 in February, 0.8 percent lower than the previous month.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 10th day of the month.