Trucking news and briefs for Wednesday, Feb. 21, 2024:
ATA's Truck Tonnage Index saw a 4.7% year-over-year decrease in January, with a 3.5% month-over-month decrease from December.ATA
The amount of freight moved by trucks in January was down from December due to winter weather and other factors, according to the American Trucking Associations’ latest Truck Tonnage Index report.
ATA’s advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 3.5% in January after increasing 1.2% in December. In January, the index equaled 111.0 (2015=100) compared with 115.0 in December.
“January’s data was a snap back to reality for anyone thinking the freight market was about to turn the corner,” said ATA Chief Economist Bob Costello. “Bad winter weather in January likely hurt volumes, not to mention sharp drops in a number of drivers of tonnage including retail sales, housing starts and manufacturing output.”
Compared with January 2023, the seasonally-adjusted index fell 4.7%, which was the 11th straight year-over-year decrease. In December, the index was down 0.8% from a year earlier.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 109.4 in January, 0.7% below December’s level (110.2). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
