Truck Tonnage Index Rose 2.1% in August, Follows 2.1% Increase in July, Reaches Six-Month High
ATA Chief Economist Bob Costello said that the latest increase was another positive sign for the industry. “The gains in tonnage during July and August reflect a growing economy and less of an overhang in inventories,” Costello noted. He is hopeful that the overall trend in truck tonnage during the months ahead will be upward; however, he acknowledged that the pace of increase will likely moderate from the cumulative 4.3% gain over the last two months. “While I am optimistic that the worst is behind us, most economic indicators, including industrial output and household spending, suggest freight tonnage will exhibit moderate, and probably inconsistent, growth in the months ahead."