The American Trucking Assns.’ seasonally adjusted Truck Tonnage Index increased 1.6% to 147.3 (1993=100) in June, the association announced Wednesday.
Compared to June 2002, the unadjusted index increased by a robust 5.5%.
While the monthly increase was a welcome sight, it did not erase the 5% decrease in May. Nevertheless, the year-over-year increase of 5.5% from June of last year is a good sign, according to the ATA. For the first half of the year, truck tonnage increased 3.9% compared to the same six-month period in 2002.
"The key economic drivers of truck freight -- like manufacturing output and retail sales -- increased in June, so it isn’t too surprising that tonnage followed suit," said Bob Costello, ATA’s chief economist. Costello said he was "very pleased" that truck tonnage increased a solid 5.5% from June 2002 after the volume index fell in May compared to a year earlier.
"As we expected, results for May were not in line with the general trend of growing truck tonnage. We continue to believe that truck tonnage will grow at a modest pace and hopefully improve as the economy does in the second half of this year," Costello said.
Trucks hauled 8.9 billion tons of freight in 2002, or 67.9% of all tonnage carried by all modes of domestic freight transportation. Motor carriers collected $585 billion dollars or 87% of total revenue earned by all transport modes.
ATA calculates the tonnage index based on surveys from its membership, and has been doing so since the 1970s. It is a preliminary figure and subject to change in its final report issued around the fifth day of every month. The association releases a full report on the index during the first full week of every month.
Compared to June 2002, the unadjusted index increased by a robust 5.5%.
While the monthly increase was a welcome sight, it did not erase the 5% decrease in May. Nevertheless, the year-over-year increase of 5.5% from June of last year is a good sign, according to the ATA. For the first half of the year, truck tonnage increased 3.9% compared to the same six-month period in 2002.
"The key economic drivers of truck freight -- like manufacturing output and retail sales -- increased in June, so it isn’t too surprising that tonnage followed suit," said Bob Costello, ATA’s chief economist. Costello said he was "very pleased" that truck tonnage increased a solid 5.5% from June 2002 after the volume index fell in May compared to a year earlier.
"As we expected, results for May were not in line with the general trend of growing truck tonnage. We continue to believe that truck tonnage will grow at a modest pace and hopefully improve as the economy does in the second half of this year," Costello said.
Trucks hauled 8.9 billion tons of freight in 2002, or 67.9% of all tonnage carried by all modes of domestic freight transportation. Motor carriers collected $585 billion dollars or 87% of total revenue earned by all transport modes.
ATA calculates the tonnage index based on surveys from its membership, and has been doing so since the 1970s. It is a preliminary figure and subject to change in its final report issued around the fifth day of every month. The association releases a full report on the index during the first full week of every month.
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