The American Trucking Associations' advanced seasonally adjusted for-hire Truck Tonnage Index increased 0.6 percent in January, marking its fifth consecutive monthly gain.
ATA recently revised the index back five years, which resulted in a slightly stronger 2005 performance than previously reported. ATA's index grew 2.3 percent compared with 2004 rather than 2.0 percent as originally reported.
December's tonnage level, meanwhile, actually increased 0.2 percent instead of falling significantly. Each year, ATA revises the index back five years as part of its annual calculation for the upcoming year's seasonal factors.
January's improvement pushed the seasonally adjusted index to 118.0 (2000 = 100), the second highest level on record. Compared with January 2005, the index was 3.2 percent lower. The not seasonally adjusted index rose 1.4 percent from December 2005 to 109.0.
ATA Chief Economist Bob Costello said, "The end of 2005 was much stronger than we originally reported and fit more in line with reports we were getting from motor carriers. January's improvement was another good sign for the motor carrier industry."
"Tonnage volumes in January 2005 were extremely strong and as a result, the 3.2 percent reduction on a year-over-year basis will not be the norm going forward," Costello said. "Year-over gains can be expected to improve in the months ahead."
Trucking serves as a barometer of the U.S. economy because it represents nearly 70 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
Trucks hauled 9.8 billion tons of freight in 2004. Motor carriers collected $671 billion dollars, or just under 88 percent 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 tenth day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
ATA recently revised the index back five years, which resulted in a slightly stronger 2005 performance than previously reported. ATA's index grew 2.3 percent compared with 2004 rather than 2.0 percent as originally reported.
December's tonnage level, meanwhile, actually increased 0.2 percent instead of falling significantly. Each year, ATA revises the index back five years as part of its annual calculation for the upcoming year's seasonal factors.
January's improvement pushed the seasonally adjusted index to 118.0 (2000 = 100), the second highest level on record. Compared with January 2005, the index was 3.2 percent lower. The not seasonally adjusted index rose 1.4 percent from December 2005 to 109.0.
ATA Chief Economist Bob Costello said, "The end of 2005 was much stronger than we originally reported and fit more in line with reports we were getting from motor carriers. January's improvement was another good sign for the motor carrier industry."
"Tonnage volumes in January 2005 were extremely strong and as a result, the 3.2 percent reduction on a year-over-year basis will not be the norm going forward," Costello said. "Year-over gains can be expected to improve in the months ahead."
Trucking serves as a barometer of the U.S. economy because it represents nearly 70 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
Trucks hauled 9.8 billion tons of freight in 2004. Motor carriers collected $671 billion dollars, or just under 88 percent 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 tenth day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
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