Truck Tonnage Index Increased 4.3% in February

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 4.3% in February after decreasing 3.2% in January. In February, the index equaled 116.0 (2015=100) compared with 111.3 in January.

“After a very soft January, due in part to winter storms, truck tonnage snapped back in February,” 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. “February’s level was the highest in a year, yet the index still contracted from a year earlier, suggesting truck freight remains in a recession.”

January’s decrease was revised up from our February 20 press release.

Compared with February 2023, the index fell 1.4%, which was the twelfth straight year-over-year decline. In January, the index was down 4.5% from a year earlier. 

The not-seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 109.7 in February, the same as in January. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight. 

In calculating the index, 100 represents 2015.

Trucking serves as a barometer of the U.S. economy, representing 72.6% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. 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. 

ATA calculates the tonnage index based 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. 

Related Articles:

• Truck Tonnage Index Decreased 3.5% in January
• Truck Tonnage Index Increased 2.1% in December
• Truck Tonnage Index Decreased 1% in November
• Truck Tonnage Increases 1.1% in October 2023 
• Truck Tonnage Index Falls 1.1% in September 2023
• Truck Tonnage Index Rose .2% in August 2023
• Truck Tonnage Index Decreases .8% in July 2023
• Truck Tonnage Index Increases 2.1% in June 2023
• Truck Tonnage Index Increases 2.4% in May 2023
• Truck Tonnage Index Decreases 1.7% in April 2023
• Truck Tonnage Decreases 5.4% in March 2023

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