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SEARCHAmerican Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index fell 3% to 128.6 in April to the lowest level in a year.
Graph via ATA
American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index fell 3% to 128.6 in April to the lowest level since a year ago.
This follows a revision in March numbers from the originally reported 1.1% to just 0.4%. When you consider that along with April’s decrease, ATA believes a turnaround is unlikely through June.
“Like most economic indicators, truck tonnage was soft in April,” said Bob Costello, ATA chief economist. “Unless tonnage snaps back in May and June, GDP growth will likely be suppressed in the second quarter.”
Compared with April 2014, the seasonally adjusted ndex increased just 1%, which was well below the 4.2% gain in March and the smallest year-over-year gain since February 2013. Year-to-date through April, compared with the same period last year, tonnage was up 3.8%.
Without seasonal adjustment, April’s index equaled 130.6 which was 5.9% below the previous month.
Costello added that April truck tonnage is off 5.3% from the high in January. “The next couple of months will be telling for both truck freight and the broader economy,” he said. “Any significant jump from the first quarter is looking more doubtful.”
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