ATA Truck Tonnage Up May, Reports ATAby Jake Tully - Published: 6/19/2018
Earlier this week the American Trucking Associations reported that its advanced seasonally adjusted for-hire truck tonnage index saw a rise of 0.7% in May following a rise of 2.7% in April of this year.
The ATA reports that compared to figures from 2017, freight tonnage has increased 8% annually, compared to a gain of 3.8% in 2017 overall.
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"This continues to be one of the best, if not the best, truck freight markets we have ever seen," said ATA Chief Economist Bob Costello. "May's increases, both sequentially and year-over-year, not only exhibit a robust freight market, but what is likely to be a very strong GDP reading for the second quarter. However, in the near-term, look for moderating growth rates for freight simply due to more difficult year-over-year comparisons, not from falling tonnage levels."
According to the ATA, the non-seasonally adjusted index for May equaled 1118 in May, more than a 7.6% increase above May of 2017.
More information about the ATA and the Truck Tonnage indexes may be found at the Association’s site.