why-join-food-shippers

The Food Shippers of America Blog

Truck Tonnage Index Rose .2% in August

by Staff, on Sep 21, 2023 11:48:14 AM

Truck-Tonnage-August-2023-1200x628

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.2% in August after rising 1.1% in July. In August, the index equaled 115.3 (2015=100) compared with 115 in July.

Bob Costello-1“The evidence is growing that tonnage hit bottom in April and continues its slow climb upwards,” 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. “However, year-over-year comparisons remain difficult as tonnage peaked in September of last year. As a result, it is unlikely that tonnage turns positive compared with a year earlier for at least a month or two longer. Most recently, freight continues to be mixed, with consumer spending and factory output flat to down.”

July’s increase was revised higher from our August 22 press release.

Compared with August 2022, the SA index fell 2.3%, which was the sixth straight year-over-year decrease. In July, the index was down 1.2% 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 120.7 in August, 6.3% above the July level (113.6). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.

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.

Source: View ATA News Release (August 2023)

 Related Articles:

Like this kind of content? Subscribe to our "Food For Thought" eNewsletter!

FSA-Food-For-Thought-email-example

Now more than ever, professionals consume info on the go. Distributed twice monthly, our "Food For Thought" e-newsletter allows readers to stay informed about timely and relevant industry topics and FSA news whether they're in the office or on the road. Topics range from capacity, rates and supply chain disruption to multimodal transportation strategy, leveraging technology, and talent management and retention. Learn More

About FSA

Whether it’s supply chain optimization and modal usage or talent development and green logistics, Food Shippers helps you to stay on top of key issues and emerging trends. Being part of our community helps you to bring efficiencies to your supply chain and gain a competitive edge.

Disclaimer: The views and opinions expressed in articles within the FSA Blog are those of the authors/submitters and do not necessarily reflect the views or positions of Food Shippers of America.

Have a story to tell food shippers? Pitch it to us.