April truck tonnage as measured by the American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index dropped 0.7 percent from March, the ATA reported May 25.
April’s decline followed a revised 1.9 percent gain in March. The April figure was 4.8 percent higher than a year earlier.
The April index measuring tonnage actually hauled before any seasonal adjustment fell 8 percent from March, ATA said.
“The drop in April is not a concern. Since freight volumes are so volatile truck tonnage is unlikely to grow every month, even on a seasonally adjusted basis,” ATA Chief Economist Bob Costello said. “I expect economic activity, and with it truck freight levels, to grow at a moderate pace in the coming months and quarters.”
“The industry, and the economy at large, should benefit from the recent declines in oil and diesel prices,” Costello added. “Lower fuel costs will help freight volumes and motor carrier bottom lines going forward.”
The strike was spurred by the Teamsters Union Local 848. The union alleges ...