Truck Tonnage Falls for Second Straight Month
by July 6, 2012 9:48 am 76 views
The amount of freight hauled by trucks fell 0.7 percent in May after dropping 1.1 percent in April, the American Trucking Associations reported June 20.
Year-to-date, however, tonnage was up 3.8 percent compared to last year, according to the ATA’s monthly For-Hire Truck Tonnage Index.
ATA chief economist Bob Costello said in a news release that the two straight months of contractions were disappointing, and reflect the slowing of the broader economy.
“The good news is that the decrease in fuel prices will help support retail sales going forward, which is a big part of truck tonnage,” he said.
Diesel fuel prices have fallen for 12 straight weeks, according to the U.S. Department of Energy’s weekly fuel update, and are now at their lowest point since February 2011.
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.