The American Trucking Associations' advance seasonally adjusted For-Hire Truck Tonnage Index was up 3.1 percent in January, its highest level since September 2008.
According to Bob Costello, ATA chief economist, the recent index figures coupled with reports from carriers indicate that we're in the midst of a recovery. "While I don't expect tonnage to continue growing as robustly as it did in January, the industry is finally moving in the right direction," he said. "Although there are still risks that could throw the rebound off track, the likelihood of that happening continues to diminish."
Following a revised 1.3 percent boost in December 2009, the ATA's index climbed to 110.4 (2000=100) in January from December's 107.
When comparing the index to January 2009, tonnage jumped 5.7 percent, the best year-over-year reading since January 2005. For all of 2009, the tonnage index was down 8.7 percent, the largest annual decrease since a 12.3 percent plunge in 1982.
ATA recently revised the seasonally adjusted index back five years as part of its annual revision.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was at 99.5 in January, down 3.3 percent from the previous month.
ATA recently revised the seasonally adjusted index back five years as part of its annual revision.
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 10th day of the month.
According to Bob Costello, ATA chief economist, the recent index figures coupled with reports from carriers indicate that we're in the midst of a recovery. "While I don't expect tonnage to continue growing as robustly as it did in January, the industry is finally moving in the right direction," he said. "Although there are still risks that could throw the rebound off track, the likelihood of that happening continues to diminish."
Following a revised 1.3 percent boost in December 2009, the ATA's index climbed to 110.4 (2000=100) in January from December's 107.
When comparing the index to January 2009, tonnage jumped 5.7 percent, the best year-over-year reading since January 2005. For all of 2009, the tonnage index was down 8.7 percent, the largest annual decrease since a 12.3 percent plunge in 1982.
ATA recently revised the seasonally adjusted index back five years as part of its annual revision.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was at 99.5 in January, down 3.3 percent from the previous month.
ATA recently revised the seasonally adjusted index back five years as part of its annual revision.
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 10th day of the month.
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