THE For-Hire Truck Tonnage Index, seasonally adjusted by the American Trucking Associations, showed a 1.1 per cent increase in October following a 1.1 per cent decline in September, reports the American Journal of Transportation.
The October index stood at 115.2 (2015=100), up from 113.9 in September.
'After hitting a floor in April, tonnage has slowly and inconsistently improved but remains three per cent below its recent peak in September 2022,' said ata economist Bob Costello.
'Despite the monthly gain, truck freight remains soft as it continues to contract on a year-on-year basis. It is important to remember that our for-hire truck freight index, which includes both truckload and LTL freight, is dominated by contract freight with minimal amounts of spot market loads. The traditional spot market remains much weaker than contract tonnage.'
In comparison to October 2022, the seasonally adjusted (SA) index experienced a 2.1 per cent decline, marking the eighth consecutive year-over-year decrease. The September index had also witnessed a 4.1 per cent decrease from the previous year.
The not-seasonally adjusted index, reflecting the actual change in tonnage hauled by fleets before any seasonal adjustment, reached 119.7 in October, representing a 6.3 per cent increase from the September level of 112.5. In the index calculation, 100 corresponds to the base year of 2015.
ATA's For-Hire Truck Tonnage Index primarily reflects contract freight rather than spot market freight.
Trucking, being a key indicator of the US economy, accounts for 72.6 per cent of the tonnage carried by all modes of domestic freight transportation, encompassing manufactured and retail goods.
In 2022, trucks transported 11.46 billion tons of freight, contributing to motor carriers collecting US$940.8 billion, equivalent to 80.7 per cent of the total revenue earned by all transportation modes.
ATA derives the tonnage index from surveys conducted among its members, a practice it has upheld since the 1970s.
The figures provided are preliminary and subject to adjustments in the final report issued around the fifth day of each month.
This comprehensive report includes month-to-month and year-on-year results, pertinent economic comparisons, and key financial indicators.
SeaNews Turkey
The October index stood at 115.2 (2015=100), up from 113.9 in September.
'After hitting a floor in April, tonnage has slowly and inconsistently improved but remains three per cent below its recent peak in September 2022,' said ata economist Bob Costello.
'Despite the monthly gain, truck freight remains soft as it continues to contract on a year-on-year basis. It is important to remember that our for-hire truck freight index, which includes both truckload and LTL freight, is dominated by contract freight with minimal amounts of spot market loads. The traditional spot market remains much weaker than contract tonnage.'
In comparison to October 2022, the seasonally adjusted (SA) index experienced a 2.1 per cent decline, marking the eighth consecutive year-over-year decrease. The September index had also witnessed a 4.1 per cent decrease from the previous year.
The not-seasonally adjusted index, reflecting the actual change in tonnage hauled by fleets before any seasonal adjustment, reached 119.7 in October, representing a 6.3 per cent increase from the September level of 112.5. In the index calculation, 100 corresponds to the base year of 2015.
ATA's For-Hire Truck Tonnage Index primarily reflects contract freight rather than spot market freight.
Trucking, being a key indicator of the US economy, accounts for 72.6 per cent of the tonnage carried by all modes of domestic freight transportation, encompassing manufactured and retail goods.
In 2022, trucks transported 11.46 billion tons of freight, contributing to motor carriers collecting US$940.8 billion, equivalent to 80.7 per cent of the total revenue earned by all transportation modes.
ATA derives the tonnage index from surveys conducted among its members, a practice it has upheld since the 1970s.
The figures provided are preliminary and subject to adjustments in the final report issued around the fifth day of each month.
This comprehensive report includes month-to-month and year-on-year results, pertinent economic comparisons, and key financial indicators.
SeaNews Turkey
