Truck tonnage in November jumped 3.3% from a year ago, according to American Trucking Associations’ seasonally adjusted for-hire truck tonnage index.
The increase followed a 1.5% year-to-year drop October, ATA said late Thursday. The index rose 0.8% from October’s reading, following a 0.2% contraction in October.
The November index’s reading was 112, and year-to-date, the index was 1.7% lower than the first 11 months of 2006.
The not seasonally adjusted index fell 8.5% from October, to a 111.8 reading, ATA said.
ATA economist Tavio Headley said the reading suggests continued volatility and softness in freight volumes, despite the gains.
He noted that every monthly increase in the seasonally adjusted tonnage index since March was followed by a contraction the next month, and that the slowdown in tonnage is projected to continue into 2008.
“Based on the latest economic data and the expected slowdown in the economy over the next few quarters, we anticipate lackluster freight volumes at least through the first half of 2008,” Headley said.
ATA calculates the tonnage each month based on reports by its member trucking companies.