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Index 5.5% Above September 2021
WASHINGTON, Oct. 18, 2022 /PRNewswire/ — American Trucking Associations’ superior seasonally adjusted (SA) For-Hire Truck Tonnage Index elevated 0.5% in September after rising 2.1% in August. In September, the index equaled 118.8 (2015=100) versus 118.2 in August.
“The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” stated ATA Chief Economist Bob Costello. “This is one other instance of how the contract freight market stays sturdy regardless of weak spot in the spot market this 12 months.”
“The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” stated ATA Chief Economist Bob Costello. “This is another example of how the contract freight market remains strong despite weakness in the spot market this year. During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018.”
August’s improve was revised down barely from our September 20 press launch.
Compared with September 2021, the SA index elevated 5.5%, which was the thirteenth straight year-over-year acquire. In August, the index was up 6.7% from a 12 months earlier. Year-to-date via September, in contrast with the identical interval in 2021, tonnage was up 4%.
The not seasonally adjusted index, which represents the change in tonnage really hauled by fleets earlier than any seasonal adjustment, equaled 119 in September, 3.8% beneath the August stage (123.7). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight versus spot market freight.
Trucking serves as a barometer of the U.S. economy, representing 72.2% of tonnage carried by all modes of home freight transportation, together with manufactured and retail items. Trucks hauled 10.93 billion tons of freight in 2021. Motor carriers collected $875.5 billion, or 80.8% of complete income earned by all transport modes.
ATA calculates the tonnage index primarily based on surveys from its membership and has been doing so because the Seventies. This is a preliminary determine and topic to alter in the ultimate report issued across the fifth day of every month. The report contains month-to-month and year-over-year outcomes, related financial comparisons, and key monetary indicators.
American Trucking Associations is the biggest nationwide commerce affiliation for the trucking {industry}. Through a federation of fifty affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the {industry} America is determined by most to maneuver our nation’s freight. Follow ATA on Twitter or Facebook. Trucking Moves America Forward.
SOURCE American Trucking Associations
