Tonnage Tumbles 4.5 Percent in March

Seasonally adjusted for-hire truck tonnage decreased 4.5 percent in March compared to the previous month, according to a press release from the American Trucking Association.

But compared to March 2015, tonnage increased 2.2 percent.

In March 2016, the For-Hire Truck Tonnage Index was 137.6. It was 144 in February 2016.

“February’s level is an all-time high,” the release shows.

The index, which is pegged to the year 2000, measures the gross tonnage of freight transported by motor carriers in a month. Tonnage was 100 in 2000.

So far this year tonnage has increased 3.9 percent compared to the same three-month period in 2015.

“As expected, tonnage came back to earth in March from the jump in February,” said Bob Costello, chief economist for the American Trucking Association.

“The freight economy continues to be mixed,” Costello said. Housing and consumer spending are benefiting tonnage while fracking and factory output are dragging it down. Also, “freight volumes are softer than the overall economy because of the current inventory overhang throughout the supply chain.”

Without the seasonal adjustment, fleets hauled 10.2 percent more tonnage in March compared to the previous month. This index was 142.1 in March compared to 129 the previous month. The not seasonally adjusted index represents the change in tonnage actually hauled by fleets before any seasonal adjustment.

Previously, the largest monthly decrease in the index was in September 2012 when it tumbled 5.3 percent from the previous month.