Truck tonnage rebounds in August, reports ATA
August truck tonnage data, which was issued earlier this week by the American Trucking Associations (ATA) saw increases, following a sequential decline and an annual gain in July.
The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for August, came in at 119 (2015=100), for a 2.8% increase on the heels of a 1.5% July decline, which was downwardly revised from an original 1.1% decrease. That June gain was preceded by a 0.3% (downwardly revised from 0.5%) May increase. This was preceded by a 1.4% April decline, which was upwardly revised from an original reading of a 2% decrease. SA tonnage was up 1.8% in March.
On an annual basis, August SA tonnage saw a 7.4% increase, marking the 12th consecutive annual gain, as well as the largest annual increase going back to July 2018. This topped July’s 4.7% annual gain, said ATA, adding that on a year-to-date basis through August, SA tonnage is up 3.9% annually.
The ATA’s not seasonally-adjusted (NSA) index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment and the metric ATA says fleets should benchmark their levels with, came in at 124.6 in August, topping July’s 115.1 reading by 8.2%. ATA said its For-Hire Truck tonnage Index is dominated by contract freight rather than spot market freight.
“Tonnage snapped back in August after a weaker than expected July,” said ATA Chief Economist Bob Costello in a statement. “With the economy in transition to slower growth and changing consumer patterns, we may see more volatility in the months ahead. But the good news is that we continue to witness areas of freight growth in consumer spending and manufacturing, which is helping to offset the weakness in new home construction.”
