Truck tonnage, a key indicator of freight demand, surged in July, climbing 6.6 percent from June, according to the American Trucking Associations’ monthly Truck Tonnage Index. The uptick also put tonnage up 7.3 percent compared to July 2018.
“Tonnage in 2019 has been on a rollercoaster ride, plagued with large monthly swings, which continued in July as tonnage surged after falling significantly in May and June,” said ATA Chief Economist Bob Costello. “However, take out the month-to-month noise, and you see that truck tonnage is still on a nice upward path. It is important to note that ATA’s tonnage data is dominated by contract freight, which is performing significantly better than the plunge in spot market freight this year.”