Truck tonnage rose 7.4% in July
Truck tonnage rose 7.4 percent in July from a year earlier, the eighth straight increase, American Trucking Associations said Aug. 25.
For the year, tonnage is 6.7 percent higher than the same period last year, ATA said in releasing its monthly seasonally adjusted for-hire truck tonnage index. The index is at 110, compared with a baseline reading of 100 in 2000.
Tonnage in June had increased 7.6 percent from a year earlier. July’s index level gained 1.5 percent from June, ATA said.
The not seasonally adjusted index — representing the change in tonnage hauled by fleets before seasonal adjustments — was 109.9 in July, down 5 percent from June, ATA said.
ATA Chief Economist Bob Costello said the outlook remains subdued for tonnage growth in the months ahead. “The economy is slowing and truck freight tonnage has essentially gone sideways since April,” he said in a statement. He added that tonnage will post moderate gains on average for the second half of this year.
“After accounting for the reduction in supply over the last few years, even small gains in tonnage will have a larger impact on the industry than in past,” Costello said.
ATA calculates the tonnage each month based on reports by its member trucking companies.