News Content
ATA Truck Tonnage Index jumps 7.2pc in February after weak January
THE American Trucking Associations'(ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index jumped 7.2 per cent in February, following a revised 0.3 per cent reduction during January.
In February, the index equaled 144 (2000=100), up from 134.3 in January. February's level is an all-time high.
Compared with February 2015, the SA index was up 8.6 per cent, which was up from January's 1.1 per cent year-on-year gain. Year-to-date, compared with the same period in 2015, tonnage was up 4.8 per cent.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equalled 129 in February, which was 0.4 per cent above the previous month (128.5).
"While it is nice to see a strong February, I caution everyone not read too much into it," said ATA economist Bob Costello.
"The strength was mainly due to a weaker than average January, including bad winter storms, thus there was some catch-up going on in February. Normally, fleets report large declines to ATA in February tonnage, in the range of 5.4 per cent to 6.7 per cent over the last three years. So, the small increase this year yielded a big seasonally adjusted gain. If March is strong, then I'll get more excited.
"I'm still concerned about the elevated inventories throughout the supply chain. Last week, the Census Bureau reported that relative to sales, inventories rose again in January, which is troubling," he said. "We need those inventories reduced before trucking can count on more consistent, better freight volumes."
The increase is the largest monthly move for the index since January 2013 (11.4 per cent) and the largest year-on-year increase since December 2013 (10.4 per cent).
Trucking serves as a barometer of the US economy, representing 68.8 per cent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled just under 10 billion tons of freight in 2014.
In February, the index equaled 144 (2000=100), up from 134.3 in January. February's level is an all-time high.
Compared with February 2015, the SA index was up 8.6 per cent, which was up from January's 1.1 per cent year-on-year gain. Year-to-date, compared with the same period in 2015, tonnage was up 4.8 per cent.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equalled 129 in February, which was 0.4 per cent above the previous month (128.5).
"While it is nice to see a strong February, I caution everyone not read too much into it," said ATA economist Bob Costello.
"The strength was mainly due to a weaker than average January, including bad winter storms, thus there was some catch-up going on in February. Normally, fleets report large declines to ATA in February tonnage, in the range of 5.4 per cent to 6.7 per cent over the last three years. So, the small increase this year yielded a big seasonally adjusted gain. If March is strong, then I'll get more excited.
"I'm still concerned about the elevated inventories throughout the supply chain. Last week, the Census Bureau reported that relative to sales, inventories rose again in January, which is troubling," he said. "We need those inventories reduced before trucking can count on more consistent, better freight volumes."
The increase is the largest monthly move for the index since January 2013 (11.4 per cent) and the largest year-on-year increase since December 2013 (10.4 per cent).
Trucking serves as a barometer of the US economy, representing 68.8 per cent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled just under 10 billion tons of freight in 2014.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
