Wednesday, November 23, 2011

Manufacturing Boosts October Trucking Tonnage

ARLINGTON, VA "The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in October after rising a revised 1.5% in September 2011. The latest gain put the SA index at 116.3 (2000=100) in October, up from the September level of 115.8.

Compared with October 2010, truck tonnage was up 5.7% following an increase in September of 5.8% above a year earlier. Further, October’s tonnage reading was just 4.4% below the index’s all-time high in January 2005.

“Tonnage readings continue to show that economy is growing and not sliding back into recession,” ATA Chief Economist Bob Costello said. “Over the last two months, tonnage is up nearly 2% and is just shy of the recent high in January of this year.” 

“Manufacturing output has been the primary reason why truck freight volumes are increasing more than GDP. The industrial sector should slow next year, but still grow more than GDP, which means truck tonnage can increase faster than GDP too,” he said."

2 Comments:

At 11/23/2011 3:40 PM, Blogger Benjamin said...

The exchange rate of the dollar has been helping exports.

That makes for s stronger US economy and a stronger America.

 
At 11/23/2011 9:38 PM, Blogger Henry H said...

How much of this increase is due to the temporary bump in the auto industry trying recoup lost production from April to August?

 

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