American Trucking Associations’ superior seasonally adjusted For-Rent Truck Tonnage Index rose 1.2% in February after growing 0.6% in January. In February, the index equaled 118.4 in contrast with 117 in January.
“Tonnage has elevated sequentially for the final three months totaling 2.9 %,” stated ATA Chief Economist Bob Costello. “Consequently, the index is simply 0.3 % under the current excessive in September. The truth that our index is rising sequentially and on a year-over-year foundation demonstrates that contract freight continues to carry up at excessive ranges.”
He added: “Wanting forward, we proceed to see proof the stock cycle is enhancing, which implies bloated shares will cease being a headwind and ultimately assist truck freight volumes. Elevated infrastructure spending may also enhance volumes heading into the summer season months. Nonetheless, we anticipate to see continued freight softness associated to decrease house development and slowing manufacturing facility output.”
In contrast with February 2022, the seasonally adjusted index elevated 2.3%, which was the eighteenth straight year-over-year acquire, however the largest since October. In January, the index was up 1.4% from a 12 months earlier. In 2022, in contrast with the typical in 2021, tonnage was up 3.5%.
The not seasonally adjusted index, which represents the change in tonnage truly hauled by the fleets earlier than any seasonal adjustment, equaled 107.6 in February, 4.5% under the January degree (112.6). In calculating the index, 100 represents 2015.
ATA’s For-Rent Truck Tonnage Index is dominated by contract freight versus spot market freight. ATA calculates the tonnage index primarily based on surveys from its membership and has been doing so because the Nineteen Seventies.