Truck Tonnage Contracted 1.9% in November

Trucking activity in the United States contracted in November, according to the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index, just the second decrease since July.

“The frustratingly choppy freight environment continued in November,” says ATA Chief Economist Bob Costello, one of the most respected authorities on the freight economy who regularly speaks at the annual Food Shippers conference. “Since hitting a low in January of this year, tonnage is up a total of 1.1%, but the path has been fraught with nice gains one month only to come back down the next. The good news is that the overall trend this year is up, albeit at a slow rate.”

In November, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 112.5 compared with 114.6 in October. The index, which is based on 2015 as 100, was down 1% from the same month last year. 

The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 109.6 in November, 9.6% below October. 

The seasonally adjusted decrease follows a sequential 1.2% gain in October, which was unchanged from the November 19 press release.

Truck tonnage is of significant interest to professionals responsible for supply chain, transportation and logistics activities, according to Brian Everett, Group Editorial Director of Food Chain Digest, the official magazine of Food Shippers of America: “This is particularly true with those working on behalf of food manufacturers, retailers and distributors, given the food industry is heavily dependent upon over-the-road trucking as a major component to their supply chains.” 

Trucking serves as a barometer of the U.S. economy, representing 72.6% of tonnage carried by all modes of domestic freight transportation. This includes ingredients and raw materials used to manufacturer food and beverage products, as well as finished products in the food industry. Trucks hauled 11.46 billion tons of freight in 2022. Motor carriers collected $940.8 billion, or 80.7% of total revenue earned by all transport modes. 

Both indices are dominated by contract freight, as opposed to traditional spot market freight. The tonnage index is calculated on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.

Given the importance of the freight market to the food industry, Food Shippers of America (FSA) regularly monitors the changes and health of the nation’s truck tonnage.

Related Articles:

• Truck Tonnage Index Rose 1.2% in October 2024
• Truck Tonnage Index Decreased 2.1% in September 2024
• Truck Tonnage Index Increased 1.8% in August 2024
• Truck Tonnage Index Rose .3% in July 2024
• Truck Tonnage Index Jumped 3.6% in May 2024
• Truck Tonnage Index Decreased 5.4% in March 2024
• Truck Tonnage Index Increased 4.3% in February 2024
• Truck Tonnage Index Decreased 3.5% in January 2024
• Truck Tonnage Index Increased 2.1% in December 2023

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