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ATA’s truck tonnage index rose 3.7% in November but still lagged 3.8% behind last year

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ATA’s truck tonnage index rose 3.7% in November but still lagged 3.8% behind last year
The American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index increased 3.7% in November after dropping 5% in October.

ARLINGTON, Va. — The American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index increased 3.7% in November after falling 5% in October. In November, the index equaled 112.2 (2015=100) compared with 108.3 in October.

“The 2020 seesaw pattern continued in November as typical seasonality is not holding this year,” said Bob Costello, chief economist for ATA. “It was a nice gain, but the rebound was not enough to make up for October’s drop. Robust retail freight, helped by consumer spending, especially e-commerce, and very lean inventories helped truck tonnage last month. Strong single-family housing starts are also aiding freight tonnage, but lackluster restaurant, manufacturing and energy sectors remain a drag. I expect these softer industries to benefit from widespread COVID-19 vaccinations in 2021.”

October’s decrease was revised up to 5% from ATA’s preliminary figures released in late November. Compared with November 2019, the seasonally adjusted index contracted 3.8%, the eighth straight year-over-year decline. Year to date, compared with the same period in 2019, tonnage is down 3.8%.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 110.5 in November, 4.7% below the October level of 116. 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’s tonnage index is based on surveys from the association’s membership.

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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