Truck Tonnage Jumps 6.7% to Record in May
Truck tonnage jumped 6.7% in May to a record high from the same month last year, the largest year-over-year gain since December 2011, American Trucking Associations said Tuesday.
The May index posted a reading of 126, ATA said in its monthly seasonally adjusted for-hire truck tonnage report. ATA uses the year 2000 as a 100-reading baseline.
Month-to-month, tonnage rose 2.3% from April following a 0.2% decline the previous month. Tonnage is up 4.5% from 2012 through the first five months of the year.
The not seasonally adjusted index — which represents tonnage actually hauled by fleets — rose 5.4% from April to a reading of 132.7.
“While we heard good reports regarding freight levels during May, I have to admit I am a little surprised at the large gain in tonnage” ATA Chief Economist Bob Costello said. “After bouncing around in a fairly tight band during the previous three months, tonnage skyrocketed in May.”
Costello said some of the increase was attributable to factory output rising in May for the first time since February, while retail sales performed stronger than expected.
“The 6.8% surge in new housing starts during May obviously pushed tonnage up, as home construction generates a significant amount of truck tonnage,” he added.
Costello said tonnage continues to outpace the number of loads hauled, with heavy freight such as construction materials and water used in hydraulic fracturing outperforming dry-van freight.
ATA calculates the tonnage each month based on reports by its member trucking companies.
