Index Rose 1.5% from May 2023
WASHINGTON, June 18,
2024 /PRNewswire/ -- American Trucking Associations'
advanced seasonally adjusted For-Hire Truck Tonnage Index increased
3.6% in May after decreasing 1% in April. In May, the index equaled
115.9 (2015=100) compared with 111.9 in April.
"May was the first month since February
2023 that tonnage increased both sequentially and from a
year earlier," said ATA Chief Economist Bob Costello. "While there was clearly an
increase in freight before the Memorial Day holiday, it is still
too early to say whether this is the start of a long-awaited
recovery in the truck freight market."
April's decrease was revised up slightly from our May 21 press release.
Compared with May 2023, the index
rose 1.5%, the first year-over-year gain in fifteen months. In
April, the index was down 1.3% from a year earlier.
The not seasonally adjusted index, which represents the change
in tonnage actually hauled by the fleets before any seasonal
adjustment, equaled 120.4 in May, 7.1% above April. ATA's For-Hire
Truck Tonnage Index is dominated by contract freight as opposed to
spot market freight.
In calculating the index, 100 represents 2015.
Trucking serves as a barometer of the U.S. economy, representing
72.6% of tonnage carried by all modes of domestic freight
transportation, including manufactured and retail goods. Trucks
hauled 11.46 billion tons of freight in 2022. Motor carriers
collected $940.8 billion, or 80.7% of
total revenue earned by all transport modes.
ATA calculates the tonnage index based on surveys from its
membership and has been doing so since the 1970s. This is a
preliminary figure and subject to change in the final report issued
around the 5th day of each month. The report includes
month-to-month and year-over-year results, relevant economic
comparisons, and key financial indicators.
American Trucking Associations is the largest national trade
association for the trucking industry. Through a federation of 50
affiliated state trucking associations and industry-related
conferences and councils, ATA is the voice of the industry America
depends on most to move our nation's freight. Follow ATA
on Twitter or Facebook. Trucking Moves America
Forward.
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SOURCE American Trucking Associations