American truck tonnage index rose 1.8% in the second month of the year

The American Trucking Associations’ (ATA) For-Hire Truck Tonnage Index rose 1.8% in February after falling 0.3% in January. In February, the index equaled 119.1 (2015=100) compared with 116.9 in January.

“Before any impacts from COVID-19, truck tonnage had a solid month in February,” said ATA Chief Economist Bob Costello. “Last month, solid housing starts, high levels of retail sales, and even a modest improvement in manufacturing activity all helped freight volumes.

“With truck tonnage up nicely from a year earlier in February, the trucking industry was in a fairly good place before economic impacts hit from the health crisis. Trucking volumes, early in the COVID-19 emergency, will be positive for consumer staples and other commodities before we see a slowdown as the economy contracts in the second quarter,” he said.

ATA calculates the tonnage index based on surveys from its membership.

Source: ATA

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