Friday, September 25, 2009

Truck Tonnage Index Rose 2.1% in August, Follows 2.1% Increase in July, Reaches Six-Month High

ARLINGTON, VA The American Trucking Associations’ (ATA) advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.1% in August, matching July’s increase of the same magnitude. The latest gain raised the SA index to 104.1, which was the best reading since February 2009. Compared with August 2008, SA tonnage fell 7.5%, which was the best year-over-year showing since November 2008.

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."

2 Comments:

At 9/25/2009 4:33 PM, Anonymous Latter Day Saint said...

Posted a half hour behind Calculated Risk blog, with no hat tip and none of those pesky weeds about home turnover, home sales decline, durable goods decline, or bank closures.

 
At 9/25/2009 8:19 PM, Blogger 1 said...

Not to worry though, Cap & Trade will take care of that pesky little rise...

 

Post a Comment

Links to this post:

Create a Link

<< Home