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ATA truck tonnage index fell 4.5pc in March after 7.2pc February surge

AMERICAN Trucking Associations' seasonally adjusted For-Hire Truck Tonnage Index decreased 4.5 per cent in March, following a 7.2 per cent surge during February, reported the American Journal of Transportation.

In March, the index equalled 137.6 (2000=100), down from 144 in February. February's level is an all-time high.

Compared with March 2015, the seasonally adjusted index was up 2.2 per cent, which was down from February's 8.6 per cent year-over-year gain. Year-to-date, compared with the same period in 2015, tonnage was up 3.9 per cent.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equalled 142.1 in March, which was 10.2 per cent above the previous month (129).

"As expected, tonnage came back to earth in March from the jump in February," said ATA economist Bob Costello. "These things tend to correct, and March took back more than half of the surprisingly large gain in February.

"The freight economy continues to be mixed, with housing and consumer spending generally giving support to tonnage, while new fracking activity and factory output being drags," he said.

"In addition, freight volumes are softer than the overall economy because of the current inventory overhang throughout the supply chain."

The decrease is the largest monthly contraction for the index since September 2012 (-5.3 per cent).