The American Trucking Association
reported yesterday that its truck tonnage index, a key barometer of economic activity, increased 6.8% in June from a year ago, the largest annual gain since an 8% increase in January. On a monthly basis, truck tonnage in June was 2.8% higher than May.
ATA Chief Economist Bob Costello said “After growing 5.5% in the first half of the year from the same period last year, the strength of truck tonnage in the second half will depend greatly on what manufacturing output does. If manufacturing continues to grow stronger than GDP, I fully expect truck freight to do the same.”