The American Trucking Assns.’ (ATA) advanced seasonally adjusted Truck Tonnage Index rose 0.5% to 160.3 (1993=100) in June, the national association for the trucking industry said Wednesday.
This followed a revised 1.5% reduction in May.
From May to June, the unadjusted index rose a solid 7%. June is typically a strong month, which is why the seasonally adjusted index improved only slightly despite the big jump in the unadjusted figure. Compared to June 2003, the unadjusted index surged 11.1%. This was the second largest year-over-year increase in a year and a half, with the biggest witnessed in March 2004, 13%.
"June’s data shows that the trucking industry continues to deliver a robustly growing economy," said ATA Chief Economist Bob Costello. "Even more impressive than the month-to-month increase is the strength from May 2003. And year-to-date, for the first half of 2004, compared to the same six-month period in 2003, truck tonnage grew an impressive 7.2%, after increasing just 3% for all of 2003." Costello said he "remains bullish" on truck freight volumes for the rest of this year.
Trucks hauled 9 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. This is a preliminary figure and subject to change. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
The ATA is the largest national trade association for the trucking industry.
This followed a revised 1.5% reduction in May.
From May to June, the unadjusted index rose a solid 7%. June is typically a strong month, which is why the seasonally adjusted index improved only slightly despite the big jump in the unadjusted figure. Compared to June 2003, the unadjusted index surged 11.1%. This was the second largest year-over-year increase in a year and a half, with the biggest witnessed in March 2004, 13%.
"June’s data shows that the trucking industry continues to deliver a robustly growing economy," said ATA Chief Economist Bob Costello. "Even more impressive than the month-to-month increase is the strength from May 2003. And year-to-date, for the first half of 2004, compared to the same six-month period in 2003, truck tonnage grew an impressive 7.2%, after increasing just 3% for all of 2003." Costello said he "remains bullish" on truck freight volumes for the rest of this year.
Trucks hauled 9 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. This is a preliminary figure and subject to change. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
The ATA is the largest national trade association for the trucking industry.
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