The American Trucking Associations’ (ATA) For-Hire Truck Tonnage Index jumped 7.1% in August, following a 0.5% gain during the month of July.
Compared with August 2016, the index surged 8.2%. In July, the index rose 2.7% on a year-over-year basis. Year-to-date, compared with the same eight months in 2016, the index is up 2.1%.
“Tonnage was stronger than most other economic indicators in August and more than I would have expected,” said ATA Chief Economist Bob Costello. “However, prep work for the hurricanes and better port volumes likely gave tonnage an added boost during the month.
“I suspect that short-term service disruptions from when the storms made landfall, as well as the normal ebb and flow of freight, could make September weaker and tonnage will smooth out to more moderate gains, on average,” he said.
ATA calculates the tonnage index based on surveys from its membership.
Source: ATA< Return