After dropping 1% in May, the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 8.7% in June, equaling 115.3 compared with 106.1 in May.
The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index only decreased 1% in May to 106.1 after falling 10.3% in April to 107.2.
The American Trucking Associations’ Truck Tonnage Index saw a huge drop in for-hire freight levels in April, plummetting 12.2% after seeing a slight 0.4% upturn in March.
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.
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.
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.
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.”
American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index saw a slight gain in September after falling 4% the month before.
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.
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.