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July ATA seasonally adjusted truck tonnage index falls 2.1pc
SEASONALLY adjusted (SA) For-Hire Truck Tonnage Index decreased 2.1 per cent in July, following a revised 1.6 per cent decline in June according to a report from the American Trucking Associations.
In July, the index equaled 134.3 (2000 = 100), down from 137.1 in June. The all-time high was 144 in February. Compared with July 2015, the SA index rose just 0.3 per cent, the smallest year-on-year gain in 2016.
In June, the year-on-year increase was 2.1 per cent. Year-to-date, compared with the same period in 2015, tonnage was up 3.2 per cent, reports the American Journal Transportation.
The non-seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 138.2 in July, which was 2.7 per cent below the previous month (142).
"On a monthly basis, tonnage has decreased in four of the last five months and stood at the lowest level since October during July," said ATA economist Bob Costello.
"This prolonged softness is consistent with a supply chain that is clearing out elevated inventories," he said.
"Looking ahead, expect a softer and uneven truck freight environment until the inventory correction is complete. With moderate economic growth expected, truck freight will improve the further along the inventory cycle we progress," 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 transportation, including manufactured and retail goods.
Trucks hauled just under 10 billion tons of freight in 2014. Motor carriers collected $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. This is a preliminary figure and subject to change in the final report issued around the 10th day of the month.
The report includes month-to-month and year-on-year results, relevant economic comparisons and key financial indicators.
In July, the index equaled 134.3 (2000 = 100), down from 137.1 in June. The all-time high was 144 in February. Compared with July 2015, the SA index rose just 0.3 per cent, the smallest year-on-year gain in 2016.
In June, the year-on-year increase was 2.1 per cent. Year-to-date, compared with the same period in 2015, tonnage was up 3.2 per cent, reports the American Journal Transportation.
The non-seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 138.2 in July, which was 2.7 per cent below the previous month (142).
"On a monthly basis, tonnage has decreased in four of the last five months and stood at the lowest level since October during July," said ATA economist Bob Costello.
"This prolonged softness is consistent with a supply chain that is clearing out elevated inventories," he said.
"Looking ahead, expect a softer and uneven truck freight environment until the inventory correction is complete. With moderate economic growth expected, truck freight will improve the further along the inventory cycle we progress," 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 transportation, including manufactured and retail goods.
Trucks hauled just under 10 billion tons of freight in 2014. Motor carriers collected $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. This is a preliminary figure and subject to change in the final report issued around the 10th day of the month.
The report includes month-to-month and year-on-year results, relevant economic comparisons and key financial indicators.
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