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ATA truck tonnage index up 2.8pc in July, its second highest level ever

AMERICAN Trucking Associations' (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index increased 2.8 per cent in July, following a revised drop of 0.4 per cent during June.

In July, the index equalled 135.0 (2000=100), the second highest level on record. The all-time high of 135.8 was reached in January 2015, said the ATA statement.

Compared with July 2014, the SA index increased 3.7 per cent, which was above the 1.9 per cent gain in June. Year-to-date through July, compared with the same period last year, tonnage was up 3.4 per cent.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equalled 137.3 in July, which was 0.8 per cent below the previous month (138.4).

"After several soft months starting in February, tonnage really snapped back in July," said ATA economist Bob Costello. "July was the single best monthly gain since November 2013."

Mr Costello pointed to better retail sales, factory output, and housing starts. "However, I remain concerned in the near term about the high level of inventories throughout the supply chain. This could have a negative impact on truck freight volumes over the next few months," he said.

Trucking serves as a barometer of the US economy, representing 68.8 per cent of tonnage carried by all modes of domestic freight transport, including manufactured and retail goods.

Trucks hauled just under 10 billion tons of freight in 2014. Motor carriers collected US$700.4 billion, or 80.3 per cent of total revenue earned by all transport modes.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. The report includes month-to-month and year-on-year results, relevant economic comparisons and key financial indicators.