The American Trucking Assns.’ (ATA) advanced seasonally adjusted Truck Tonnage Index rose 1.8% to 154.9 (1993=100) in February, the national association for the trucking industry reported Thursday.
The increase followed a decrease of 2.3% in January. The February reading was the second-highest level ever, below only the 155.8 registered in December 2003.
From January to February, the unadjusted index fell 1.5%. Compared to February 2003, the unadjusted index surged 7.3%, the same strong year-over-year gain registered in December 2003.
"The recovery in truck tonnage remained on course during February", said ATA Chief Economist Bob Costello. "This was the fifth increase in the last six months for the adjusted index." Costello said he believed that the strength in the manufacturing sector as well as retail sales were the primary reasons why tonnage grew robustly in February, both on a month-to-month and year-over-year basis.
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 report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators.
The increase followed a decrease of 2.3% in January. The February reading was the second-highest level ever, below only the 155.8 registered in December 2003.
From January to February, the unadjusted index fell 1.5%. Compared to February 2003, the unadjusted index surged 7.3%, the same strong year-over-year gain registered in December 2003.
"The recovery in truck tonnage remained on course during February", said ATA Chief Economist Bob Costello. "This was the fifth increase in the last six months for the adjusted index." Costello said he believed that the strength in the manufacturing sector as well as retail sales were the primary reasons why tonnage grew robustly in February, both on a month-to-month and year-over-year basis.
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 report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators.
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