The American Trucking Associations’ advanced seasonally adjusted for-hire Truck Tonnage Index decreased for the first time in three months, falling 0.7 percent in June. June’s drop followed gains of 2.0 percent and 0.4 percent in April and May, respectively.
On a seasonally adjusted basis, the index fell to 112.3 from 113.1 in May. June’s index was 1.4 percent lower than June 2005. Year-to-date, the index was down 1.9 percent, compared with the same period in 2005. The not-seasonally adjusted index also contracted 0.7 percent from June to 119.1.
ATA Chief Economist Bob Costello said tonnage volumes slipped slightly in June, corresponding with a deceleration in overall economic growth. “The economy has slowed some from the first quarter of the year,” Costello said. “However, there continues to be a favorable supply-demand market. Also, considering the solid growth in manufacturing production, especially in durable goods products, we expect to see a strong fall freight season.”
ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. The baseline year for the index is 2000.