Index 0.8% and Above November 2021
WASHINGTON, Dec. 20, 2022 /PRNewswire/ The American Trucking Associations’ advanced seasonal adjusted (SA) For Hire Truck Tonnage Index dropped 2.5% in November following a 1.2% drop in October. The index was equal to 114.7 (2015=100), compared with 117.6 in Oct.
“For-hire truck tonsnage experienced the largest monthly decline in November since the beginning of the pandemic. It also saw a total drop 3.7% in October, November.” ATA Chief Economist Bob Costello. “The decreases are consistent with anecdotal reports that a soft fall season for freight and a slowing economy overall. Particularly weak is the housing-related freight.
Our October decline was revised upwards November 22 Press release
Comparable with November 2021The SA index grew 0.8% in October, making it the 15th consecutive year-over-year increase, but the lowest over the same period. The index increased 4% in October compared to a year ago. Tonnage increased 3.7% year-to-date from November 2021 to the same period in 2018.
The index that is not seasonalally adjusted, which measures the actual tonnage hauled by fleets prior to any seasonal adjustment, was 114.6 in November. This is 4.6% lower than the October level (120.2). 100 is 2015 in the calculation of the index. The For-Hire Truck Tonnage Index of ATA is dominated by spot market freight, rather than contract freight.
The U.S. economy’s barometer is trucking, which accounts for 72.2% of all domestic freight transport modes, including retail and manufactured goods. In 2021, trucks hauled 10.93 trillion tons of freight. Motor carriers collected $875.5 BillionApproximately 80.8%, of all total revenue generated by transport modes.
The ATA calculates tonnage indexes based on surveys of its members. This has been done since the 1970s. This figure is preliminary and can be modified in the final report that is issued on the 5th of each month. This report includes key financial indicators, month-to–month and year–over-year comparisons, as well important economic data.
American Trucking Associations, the largest national trade association in the trucking industry, is American Trucking Associations. ATA represents the industry America relies on to move its freight. It is a federation made up of 50 state trucking associations as well as industry-related conferences, councils and councils. Follow ATA on Twitter Or Facebook. Trucking Moves America Forward.
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SOURCE American Trucking Associations