Truck Tonnage Increases 1.3% in July, Near Record High
August 19, 2014
The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index rose 1.3% in July, following a decrease of 0.8% the previous month, according to newly released figures.
In July, the index equaled 130.2 versus 128.6 in June and is off just 0.6% from the all-time high in November 2013 of 131.
Compared with July 2013, the seasonally adjusted index increased 3.6%, up from June’s 2.3% year-over-year gain. The latest year-over-year increase was the largest in three months. Year-to-date, compared with the same period last year, tonnage is up 2.9%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 133.3 in July which was 0.8% above the previous month at 132.3.
“After a surprising decrease in June, tonnage really snapped back in July,” said ATA Chief Economist Bob Costello. “This gain fits more with the anecdotal reports we are hearing from motor carriers that freight volumes are good.”
Costello added that tonnage is up 4.9% since hitting a recent low in January.
“The solid tonnage number in July fits with the strong factory output reading and a jump in housing starts for the same month,” he said. “I continue to expect moderate, but good, tonnage growth for the rest of the year.”
ATA calculates the tonnage index based on surveys from its membership.