ATA Truck Tonnage Index inches upward
Mar 1, 2008 12:00 PM
The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index increased 0.8 percent in November 2007, following a 0.2 percent contraction in October. The not seasonally adjusted index decreased 8.5 percent from October to 111.8.
On a seasonally adjusted basis, the tonnage index improved to 112.0 (year 2000 = 100) in November from 111.1 the previous month. The index grew 3.3 percent compared with a year earlier, marking the second year-over-year increase in eight months and the largest gain since January 2005. Year-to-date, the tonnage index was 1.7 percent lower than during the same period in 2006.
ATA economist Tavio Headley said the November tonnage reading suggests continued volatility and softness in freight volumes, despite the month-to-month and year-over-year gains. He said every monthly increase in the seasonally adjusted tonnage index, since March, was followed by a contraction the next month.
The slowdown in tonnage volumes is projected to continue into 2008. “Based on the latest economic data and the expected slowdown in the economy over the next few quarters, we anticipate lackluster freight volumes at least through the first half of 2008,” Headley said.
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