American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index rebounded from a small drop in December, increasing 2.3% for the month of January.

For the month, the index equaled 117.3, up from 114.7 in December. The Truck Tonnage Index had seen declines in two consecutive months at the end of 2018, which ATA Chief Economist Bob Costello interpreted as an indication that the industry and economy were moderating after what had been banner year for trucking.

January’s upward reading was a welcome change for the industry, but Costello again reiterated his prediction that 2019 would not match last year’s growth. Still, this January’s index reading was 5.5% better than January of last year.

“I was very pleased to see this rebound,” said Costello. “But we should expect some moderation in tonnage this year, as most of the key sectors that generate truck freight tonnage are expected to decelerate.”