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Truck tonnage in September increased 5.5% when measured against the same month a year ago, and on a sequential basis it rose 0.5% from August, according to American Trucking Associations.
September’s index of 118.8 compared with 118.2 in August. (It equaled 100 in 2015.)
The federation’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
ATA released the index Oct. 18, and said the latest gain put tonnage at the highest level since August 2019 and the third-highest level on record.
Costello
“This is another example of how the contract freight market remains strong despite weakness in the spot market this year,” said Bob Costello, chief economist for the federation.
“During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018,” Costello added.
The September increase is the 13th consecutive year-over-year gain. In August, the index was up 6.7% from a year earlier.
For the first nine months, tonnage was up 4% compared with the same period a year ago.
Trucking serves as a barometer of the U.S. economy, representing 72.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.93 billion tons of freight in 2021. Motor carriers collected $875.5 billion, or 80.8% of total revenue earned by all transport modes.
Before seasonal adjustment the index equaled 119 in September, 3.8% below the August level of 123.7.
ATA calculates the tonnage index based on monthly surveys from its membership
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