ATA Truck Tonnage Index Jumps 6.8% in June
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.”
4 Comments:
this index is 115 vs 100 in 2000.
that's 1.27% annual growth for the last 11 years.
that seems a pretty poor showing.
these big percentage gains may just have to do with how bad the last could years have been.
how does this number compare to say, 2007?
From the ATA report:
Motor carriers told us that freight was strong in June and that played out in the data as well,” ATA Chief Economist Bob Costello said. Tonnage recovered all of the losses in April and May when the index contracted a total of 2.6%."
The information that carriers recovered the losses of April and May is signifcant. All lot of the mood of the country is malaise, but in fact there is growth in various sectors including manufacturing.
wait till next report...
distillates (diesel fuel) demand is down in july...
http://www.eia.gov/dnav/pet/pet_cons_wpsup_k_w.htm
EIA has been showing Diesel Demand steadily deteriorating for some time, now.
For instance, in the last 4 wk period Distillate Demand is Down 3.5% from the same 4 wk period last year.
As I said, it's been running this way for quite some time.
Sumpin's wrong.
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