ATA Reports July Freight Saw Slight Increaseby Jake Tully - Published: 8/22/2017
As the American Trucking Associations releases its monthly report for the advanced seasonally adjusted for-hire truck tonnage index for July, the organization reports a 0.1% increase over last month.
The ATA reports that this 0.1% increase follows at 4.4% drop during the month of June, though it compares with a SA index increase of 2.3% in July 2016.
ATA Chief Economist Bob Costello reports that the 0.1% increase may reflect a myriad of economic conditions in the country, though perhaps specifically the sectors impacting overall production in the country may have contributed to what was only a small increase.
"July's small increase in truck tonnage fits with other mixed economic indicators," said Costello. "Retail sales surprised to the upside, but manufacturing production and housing starts were down, so combined those likely caused a rather flat month in July for truck tonnage.
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Despite the figure reported for July, Costello reports that the ATA is staying optimistic about the future of freight for the remainder of the year and the volume in which it may be moved.
"With better economic growth in the second half of 2017, expect truck tonnage to continue increasing at a moderate pace on a year-over-year basis," reports Costello.
According to the ATA, this report saw a revision for the figure regarding a drop in June, with a correction to 4.4% decline from a previously reported 4.3% decline.
The ATA reported in its press release regarding the seasonally adjusted tonnage index that American motor carriers generated a collective $676.2 billion in 2016, the equivalent of 79.8% of total revenue produced by all modes of transportation in the country.
The tonnage report for July 2017 is one of the monthly reports conducted by the organization since the 1970s based upon data collection from ATA members.