May Truck Tonnage Jumps 3.3% From a Year Ago
Truck tonnage in May jumped 3.3% from a year earlier, marking the seventh straight year-over-year increase, American Trucking Associations said.
Tonnage rose 0.5% from April, the first month-to-month gain since January, ATA said in its monthly seasonally adjusted for-hire truck tonnage index.
April’s month-to-month level fell 0.6% from the previous month, less than the previously reported 1.1% decline.
April’s year-over-year increase was 2.2%, revised from an originally reported 2% gain, ATA said.
The year-over-year increase put the seasonally adjusted index at a reading of 114.8, ATA said. The not-seasonally adjusted index gained 1.1%, to a reading of 118.3.
ATA Chief Economist Bob Costello said May’s improved reading was a positive step forward, but said freight volumes remain mixed across the industry amid soaring prices and a weak economy.
“The fact that tonnage increased on a month-to-month basis for the first time in four months, as well as achieving its largest year-over-year gain since February . . . is quite positive,” Costello said.
“However, year-over-year comparisons continue to reflect the weakness of 2007 rather than robust growth in 2008,” he said in a statement.
ATA calculates the tonnage each month based on reports by its member trucking companies.
