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Truck tonnage rose 4.7% in July from the same month last year, American Trucking Associations said.
The index’s 125.4 reading is below June’s 125.9, which is the highest on record. ATA uses the year 2000 as a 100-reading baseline.
July’s 0.4% month-to-month dip is the first decline since May and followed June’s 0.1% gain.
The not seasonally adjusted index, which represents tonnage actually hauled by fleets, rose 3% from June.
Year to date, tonnage is up 4.7% over the same period last year, ATA said Tuesday in its monthly seasonally adjusted for-hire truck tonnage report.
“We expect solid tonnage numbers during the second half of the year as sectors that generate heavy freight, like oil and gas and autos, continue with robust growth,” ATA Chief Economist Bob Costello said.