The index shrank by 0.9% from July 2023
WASHINGTON, 20 August 2024 /PRNewswire/ — The American Trucking Associations’ seasonally adjusted For-Hire Truck Tonnage Index rose 0.3% in July after falling 1.8% in June. The index was 113.7 (2015 = 100) in July, compared to 113.3 in June.
“Although July was not a strong month, we continue to see signs that the truck freight market is likely turning around, albeit slowly,” said Chief Economist of ATA Robert Costello“Part of the small increase in July was likely due to strong import activity, particularly at West Coast seaports. Good retail sales and a slight increase in factory production compared to a year ago also contributed to truck tonnage last month.”
The decline in June was compared to our July 23 Press release.
Opposite July 2023the index fell by 0.9 percent. In June, the index was 0.6 percent below the previous year’s value.
The non-seasonally adjusted index, which represents the change in the actual tonnage carried by fleets before any seasonal adjustment, was 116.7 in July, up 3.4% from June. The ATA’s For-Hire Truck Tonnage Index is dominated by contract freight, as opposed to traditional spot market freight.
When calculating the index, 100 stands for the year 2015.
Trucking serves as a barometer of the U.S. economy, representing 72.6% of the tonnage of all domestic freight transportation, including industrial and retail goods. Trucks transported 11.46 billion tons of freight in 2022. Motor carriers collected 940.8 billion US dollarsor 80.7% of the total turnover of all transport modes.
The ATA calculates the tonnage index based on surveys of its members and has been doing so since the 1970s. This is a provisional figure and may change in the final report, which is published on the 5th day of each month. The report contains monthly and annual results, relevant economic comparisons and key financial indicators.
The American Trucking Associations is the largest national trade association for the transportation industry. Through a coalition of 50 affiliated state transportation associations and industry-related conferences and committees, the ATA is the voice of the industry America most relies on to move our nation’s freight. Follow the ATA on Þjórsárdalur or Facebook. Nothing without trucking.
SOURCE: American Trucking Associations
