October Truck Tonnage Jumps 6%
Truck tonnage jumped 6% in October from a year ago, the 11th straight year-over-year increase, American Trucking Associations said.
The upturn left the index at a reading of 112.9, ATA said in its monthly seasonally adjusted for-hire truck tonnage index. The index uses the year 2000 a its baseline reading of 100.
October’s index also rose 0.8% from September, and ATA revised September’s monthly gain to 1.8%, from a previously reported 1.7%.
ATA also boosted September’s year-to-year increase to 5.3%, from a previously reported 5.1%.
Tonnage is up 6.1% for the year compared with the same period in 2009, matching last month’s report, the group said.
ATA Chief Economist Bob Costello said that truck tonnage changes over the last couple months shows there are some bright spots in the U.S. economy.
“October tonnage levels were at the highest level in three months, even after accounting for typical seasonal shipping patterns,” he said. “These gains fit with reports out of both the manufacturing and retail sectors and show there is a little bit of life in this economic recovery.”
ATA calculates the tonnage each month based on reports by its member trucking companies.
