Truck Tonnage Index Rose 1.2% in October

Trucking activity in the United States rose modestly in October, according to the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index, the third increase since July.

“The slow, and choppy, climb off of the bottom continued in October,” 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 3%, plus the index is up sequentially in three of the last four months. No doubt the freight market has improved – albeit slowly – over the course of the year.”

In October, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 114.6 compared with 113.3 in September. The index, which is based on 2015 as 100, equaled the reading from the same month last year.

The not seasonally adjusted index, which calculates raw changes in tonnage hauled equaled 121.3 in October, 8.6% above September.

The seasonally adjusted increase follows a decline in September, which was revised up slightly from the October 22 press release.

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.

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.

• 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
• Truck Tonnage Index Decreased 1% in November 2023

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