In The News

ATA Truck Tonnage index rose 1.7 percent in February

ARLINGTON, Va. — The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index edged 1.7 percent higher in February 2009, marking the second consecutive month-to-month increase.

Still, the gain over the past two months, totaling 4.8 percent, did not even erase the 7.8 percent contraction in December 2008.

In February, the seasonally adjusted tonnage index equaled just 106.5 (2000 = 100), which is still extremely low. Also in February, the fleets reported lower volumes than in January, as the not seasonally adjusted index fell another 2 percent last month on top of January’s 4.4 percent drop.  In February, the not seasonally adjusted index equaled 95.3.

Compared with February 2008, tonnage contracted 9.2 percent, which was the third-worst year-over-year decrease of the current cycle.

ATA Chief Economist Bob Costello was very cautious about reading too much into February’s seasonally adjusted month-to-month improvement.

“As I said last month, tonnage will not fall every month on a seasonally adjusted basis, and just because it rose again in February doesn’t mean the economy is on the mend,” Costello said. “Tonnage plunged again on a year-over-year basis, which highlights the current weakness in the freight environment.”

Costello also noted that fleets are still witnessing a tough environment and there is nothing that suggests freight volumes are about to embark on a sustained recovery.

Trucking serves as a barometer of the U.S. economy, representing nearly 69 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.

Trucks hauled 10.2 billion tons of freight in 2008. Motor carriers collected $660.3 billion, or 83.1 percent 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 10th day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.

Kevin Jones of The Trucker staff can be reached for comment at [email protected] .