The American Trucking Assns.’ advanced seasonally adjusted Truck Tonnage Index fell 1.2% to 153.2 (1993=100) in October.
October’s decrease followed a jump of 10.6% in September.
Compared to October 2002, the unadjusted index increased by 2.5%. The unadjusted index increased 7.4% from September to October of this year. Year-to-date through October, the unadjusted tonnage index is up 3% compared to the same time period in 2002.
"Truck tonnage rose 7.4% on a non-seasonally adjusted basis," said Bob Costello, ATA’s chief economist, "but because October typically exhibits the largest month-to-month increase during the year, it has the highest seasonal coefficient. As a result, the unadjusted index has to increase 8.3% before the adjusted index rises at all.
"October’s reading follows the trend we’ve seen for several months now: a seesaw pattern on a month-to-month basis with marginal growth on a year-over-year basis and year-to-date. Still, economic indicators point to better tonnage levels in the coming year," Costello said. "Most important for trucking, manufacturing production seems to have turned the corner, and with inventories so lean, we expect good growth in this sector, which will translate into better tonnage levels."
Trucks hauled 8.9 billion tons of freight in 2002, or 67.9% of 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. This is a preliminary figure and subject to change in the final report issued around the seventh day of every month. The association releases a full report on the index during the first full week of every month.
The bellwether report from ATA's Economics & Statistics Group is a key indicator of for-hire trucking activity. The report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators.
October’s decrease followed a jump of 10.6% in September.
Compared to October 2002, the unadjusted index increased by 2.5%. The unadjusted index increased 7.4% from September to October of this year. Year-to-date through October, the unadjusted tonnage index is up 3% compared to the same time period in 2002.
"Truck tonnage rose 7.4% on a non-seasonally adjusted basis," said Bob Costello, ATA’s chief economist, "but because October typically exhibits the largest month-to-month increase during the year, it has the highest seasonal coefficient. As a result, the unadjusted index has to increase 8.3% before the adjusted index rises at all.
"October’s reading follows the trend we’ve seen for several months now: a seesaw pattern on a month-to-month basis with marginal growth on a year-over-year basis and year-to-date. Still, economic indicators point to better tonnage levels in the coming year," Costello said. "Most important for trucking, manufacturing production seems to have turned the corner, and with inventories so lean, we expect good growth in this sector, which will translate into better tonnage levels."
Trucks hauled 8.9 billion tons of freight in 2002, or 67.9% of 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. This is a preliminary figure and subject to change in the final report issued around the seventh day of every month. The association releases a full report on the index during the first full week of every month.
The bellwether report from ATA's Economics & Statistics Group is a key indicator of for-hire trucking activity. The report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators.
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