Indicators: Tonnage climbs in July, with strong year-over-year gains

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CCJ‘s Indicators rounds up the latest reports on trucking business indicators on rates, freight, equipment, the economy and more.

The amount of freight moved by the for-hire trucking industry in July, as measured by the American Trucking Associations monthly Truck Tonnage Index, rose 1.9 percent from June. Year over year, compared to last July, the index was up 8.6 percent.

Year-to-date, compared with the same period last year, tonnage increased 8 percent, far outpacing the annual gain of 3.8 percent in 2017.

Truck freight remained very strong in July when accounting for normal seasonality,” said ATA Chief Economist Bob Costello. “Both the month-to-month and year-over-year gains were the largest in three months. This robust growth stems from solid manufacturing, retail sales, and construction activity. The industry’s biggest challenge isn’t finding enough freight, but recruiting and retaining quality drivers.”