The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased by 0.4% in November, building slightly on October’s already impressive level.
The Truck Tonnage Index hit 118.9 for the month, up from 118.4 in October. In year-over-year comparisons, November’s index was up 7.6% compared to last year, down from October’s 8.1% gain. Year-to-date tonnage increased 7.2% compared to the same 11-month period last year.
“The fact that tonnage rose in November after a strong October is impressive,” said Bob Costello, ATA chief economist. “It was likely due to some continued pull-forward of shipments from China due to the threat of higher tariffs, as well as solid retail sales last month.”
Without seasonal adjustment, the truck tonnage index equaled 119 in November, which was 3.1% lower than October’s 122.8 reading. When numbers are calculated in this manner it represents the change in tonnage actually hauled by fleets before being seasonally adjusted.
“With continued strength in November, tonnage growth is on pace to be the best year since 1998,” said Costello.