Tonnage Surges 8% in October
American Trucking Associations’ advanced seasonally adjusted tonnage index rose 8% in October, the largest year-over-year rise since December 2011.
Month-to-month tonnage fell 2.8% to a reading of 124 in October, the first decline since July. ATA uses the year 2000 as a 100-reading baseline.
“Despite October’s month-to-month decrease, we saw a very robust year-over-year increase, and I’m seeing some good signs out of the trucking industry that suggest the economy may be a little stronger than we think,” ATA Chief Economist Bob Costello said in a statement.
“Specifically, the heavy freight sectors, like tank truck, have been helping tonnage this year. But in the third quarter, generic dry van truckload freight saw the best quarterly gains since 2010. I view this positively for the economy. I view it positively for trucking. Now, we have to see if it continues,” Costello said.
“From May through September, the index surged 3.5%, including only one monthly decrease over that period. It isn’t surprising for volumes to fall back some after such a good run,” he said.
