The American Trucking Assns.’ (ATA) advanced seasonally adjusted Truck Tonnage Index decreased 1.4% to 159.6 (1993=100) in May, the association reported Wednesday.
May’s month-to-month decrease was only the second drop in the last nine months. The other decrease was registered in January of this year. Even with the reduction, May’s reading was the second-highest on record. April’s level remained at 162.0, the all-time high, while March’s number was revised upward to 157.5.
From April to May, the unadjusted index fell 3.2%. Compared to May 2003, the unadjusted index rose 4.4%. Year-to-date, compared to the same period in 2003, truck tonnage was up a solid 6.4%.
"Despite the monthly reduction in truck tonnage during May, I believe the economic expansion is still very solid and so is the trucking industry," said ATA Chief Economist Bob Costello. "Year-over-year comparisons remain good, and robust growth is expected to continue for the industry. Many motor carriers could boost freight volumes even more, if they could just find quality drivers. The driver situation is currently limiting capacity growth," he said.
Trucks hauled 9.0 billion tons of freight in 2003, or 68.9% of tonnage carried by all modes of domestic freight transportation. Motor carriers collected $610 billion dollars, or 86.9% 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.
May’s month-to-month decrease was only the second drop in the last nine months. The other decrease was registered in January of this year. Even with the reduction, May’s reading was the second-highest on record. April’s level remained at 162.0, the all-time high, while March’s number was revised upward to 157.5.
From April to May, the unadjusted index fell 3.2%. Compared to May 2003, the unadjusted index rose 4.4%. Year-to-date, compared to the same period in 2003, truck tonnage was up a solid 6.4%.
"Despite the monthly reduction in truck tonnage during May, I believe the economic expansion is still very solid and so is the trucking industry," said ATA Chief Economist Bob Costello. "Year-over-year comparisons remain good, and robust growth is expected to continue for the industry. Many motor carriers could boost freight volumes even more, if they could just find quality drivers. The driver situation is currently limiting capacity growth," he said.
Trucks hauled 9.0 billion tons of freight in 2003, or 68.9% of tonnage carried by all modes of domestic freight transportation. Motor carriers collected $610 billion dollars, or 86.9% 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.
media brand
0 Comments
See all comments