Truck Tonnage in April Reflects Slower Economy
by June 22, 2012 4:19 pm 66 views
The amount of freight hauled by trucks fell 1.1 percent in April after increasing 0.6 percent in March, the American Trucking Associations reported recently.
However, the ATA’s For-Hire Truck Tonnage Index was up 3.5 percent compared to April 2011. Year to date, tonnage was up 3.8 percent from last year.
“While just one month, April’s decrease also matches with an economy that is likely to grow slightly slower in the second quarter than in the first quarter,” ATA chief economist Bob Costello said in a news release.
Costello noted the industry should not expect the rate of growth seen over the last couple of years, when tonnage grew 5.8 percent in both 2010 and 2011.
Annualized growth in the 3 percent to 3.9 percent range seems more likely, he said.
Trucking serves as a barometer of the U.S. economy, representing about 67 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
The ATA calculates the tonnage index based on membership surveys. The largest national trade association for the trucking industry, it’s made up of 50 state trucking associations, industry-related conferences and councils.