The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 2.7% in November, after falling 1.9% in October. October’s decrease was less than the preliminary drop of 2.8% ATA reported on November 19 2013.
In November 2013, the index equaled 128.5 (2000=100) versus 125.1 in October 2013. November’s level is a record high. Compared with November 2012, the SA index surged 8.1%, which is down from October’s 9% surge, but still very robust. Year-to-date, compared with the same period in 2012, tonnage is up 5.8%.
The not-seasonally-adjusted-index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 122.4 in November 2013, which is 8.8% below the previous month (134.2).
“Tonnage snapped back in November, which fits with several other economic indicators,” said ATA Chief Economist Bob Costello. “Assuming that December isn’t weak, tonnage growth this year will be more than twice the gain in 2012.”
Tonnage increased 2.3% in 2012. Costello noted 2013 tonnage accelerated in the second half of the year, indicating that the economy is likely stronger some might believe. “Still, truck tonnage continues to be supported by fast growing sectors of the economy that generate heavy freight loads, like residential construction, fracking for oil and natural gas, and auto production,” he said.