Washington — The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 0.2% in August after rising 1.1% in July. In August, the index equaled 115.3 (2015=100) compared with 115 in July.
“The evidence is growing that tonnage hit bottom in April and continues its slow climb upwards,” said Bob Costello, chief economist for ATA. “However, year-over-year comparisons remain difficult, as tonnage peaked in September of last year. As a result, it is unlikely that tonnage turns positive compared with a year earlier for at least a month or two longer. Most recently, freight continues to be mixed, with consumer spending and factory output flat to down.”
July’s increase was revised higher from our August 22 press release.
Compared with August 2022, the seasonally adjusted index fell 2.3%, the sixth straight year-over-year decrease. In July, the index was down 1.2% from a year earlier.
The not-seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 120.7 in August, 6.3% above the July level (113.6). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
ATA calculates the tonnage index based on surveys from its membership. These are preliminary figures and subject to change in the final report, which will be issued around Oct. 5.
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