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As stay-at-home orders in response to the COVID-19 pandemic took hold across much of the country in the latter part of March, the level of freight available – and the rates to haul it – plummeted. This means many of the smallest companies that make up the vast majority of motor carriers are seriously hurting.
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According to the American Trucking Associations, its advanced seasonally adjusted For-Hire Truck Tonnage Index rose 0.1% in January after rising 0.5% in December, equaling 117.4 (2015=100) compared with 117.3 in December.
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The positive 2019 truck-tonnage performance marks the 10th straight annual increase and, according to ATA, reflects the “very choppy” freight market that motor carriers experienced last year.
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The American Trucking Associations’ numbers tracking tonnage hauled by for-hire trucking companies fell again in November, leading ATA Chief Economist Bob Costello to say, “It’s tough to sugar-coat November’s reading.”
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American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index saw a slight gain in September after falling 4% the month before.
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In early October, we received a series of weaker-than-expected consumer and industrial data. Whether or not this data proves to be an outlier because of trade concerns and the strike at General Motors remains to be seen.
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ATA’s latest report on all freight transported by trucking in August showed another decline, but at this point the organization believes it’s unlikely that the economy is slipping into a recession.
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ATA's advanced seasonally adjusted For-Hire Truck Tonnage Index saw a nice increase in July and despite a rollercoaster-like movement the past few months, it continues an upward trend this year.
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Growing up in the Midwest, you learn which cloud formations lead to slow and steady rain, and which often lead to more severe weather. Looking back at economic activity at the first half of 2019, we may be looking at the latter
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American Trucking Associations advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 1.1% in June but was up in year-over-year comparisons.
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