The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index rose 1.2 percent in March, which was the second consecutive monthly gain. The index increased 1.6 percent in February.
On a seasonally adjusted basis, the tonnage index improved to 114.6 (2000 = 100) in March from 113.3 the previous month. The index grew 1.6 percent compared with a year earlier, marking the first year-over-year increase since June 2006 and the largest gain since December 2005. The not seasonally adjusted index jumped 15.7 percent from February to 117.1.
ATA Chief Economist Bob Costello projects the industry will see a gradual improvement in volumes as the year progresses due to an inventory correction, which should boost truck volumes, and a better economic outlook for 2008.
Trucking serves as a barometer of the United States economy because it represents nearly 70 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
Trucks hauled 10.7 billion tons of freight in 2005. Motor carriers collected $623 billion, or 84.3 percent of total revenue earned by all transport modes.