Truck Tonnage in August Surges 7.4% Yr-Over-Yr

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Truck tonnage in August surged 7.4% to 119 when measured in opposition to the identical month a 12 months in the past, and on a sequential foundation it rose 2.8% from July, in accordance with American Trucking Associations.

The federation’s For-Rent Truck Tonnage Index is dominated by contract freight versus spot market freight.

In August, the index was 119 versus 115.8 in July. (It equaled 100 in 2015.)

ATA Chief Economist Bob Costello launched the index Sept. 20, and mentioned the year-over-year improve was the biggest acquire since 2018 and the month-over-month leap is the most important since 2019.

“Tonnage snapped again in August after a weaker than anticipated July,” Costello mentioned. “With the financial system in transition to slower progress and altering shopper patterns, we may even see extra volatility within the months forward. However the excellent news is that we proceed to witness areas of freight progress in shopper spending and manufacturing, which helps to offset the weak spot in new dwelling development.”

The August improve is the twelfth consecutive year-over-year acquire, and Costello identified that the index in July additionally was up 4.7% from a 12 months earlier. For the primary eight months, the index is up 3.9% when measured in opposition to 2021 outcomes.

Trucking serves as a barometer of the U.S. financial system, representing 72.5% of tonnage carried by all modes of home freight transportation, together with manufactured and retail items. Vehicles hauled 10.23 billion tons of freight in 2020. Motor carriers collected $732.3 billion, or 80.4% of complete income earned by all transport modes.

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