Truck Tonnage Index Declines in June from May, Higher Versus Year Ago
July 22, 2014
The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 0.8% in June, following a revised 0.9% gain the previous month.
In June, the index equaled 128.6 compared to 129.6 in May. The index is off 1.9% from the all-time high in November 2013.
Compared with June 2013, the seasonally adjusted index increased 2.3%, down from May’s 3.3% year-over-year gain. This year-over-year increase was the second smallest in 2014, following a 1% gain in January. Year-to-date, compared with the same period last year, tonnage is up 2.8%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 132.3 in June which was 0.5% below the previous month at 132.9.
“June was one of those months where the data doesn’t quite match up with the anecdotal reports from fleets,” said ATA Chief Economist Bob Costello. “We had heard the freight volumes were good.”
Costello added that tonnage had increased for four consecutive months prior to June totaling 4.4%.
“Despite the small reprieve in June, the second quarter was much better than the first quarter,” he said. “Tonnage increased 2.3% from the first quarter, which was the largest quarter to quarter gain since the first quarter in 2013. Compared with the second quarter in 2013, tonnage increased 3.2%, a percentage point better than the first quarter year-over-year increase.”
ATA calculates the tonnage index based on surveys from its membership.