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Truck tonnage surged again in November, rising at an 8.1% pace and setting another record, American Trucking Associations reported.
The advanced seasonally adjusted index stood at 128.5 in November, putting the year-to-date improvement in tonnage at 5.8%. Last month, the index rose 9% on a year-over-year basis, ATA reported.
On a sequential basis, the index rose 2.7% from 125.1 in October. September's 128.7 index was the previous record.
“Tonnage snapped back in November, which fits with several other economic indicators,” ATA Chief Economist Bob Costello said. “Truck tonnage continues to be supported by fast-growing sectors of the economy that generate heavy freight loads, like residential construction, fracking for oil and natural gas, and auto production.”