Arlington, Va. — Ǻ’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 6.1% in May after jumping 7% in April. In May, the index equaled 114 (2015=100) compared with 121.4 in April.
“As expected, tonnage corrected in May from the surprising surge in April,” said Ǻ Chief Economist Bob Costello. “The economy is still growing, but the recent volatility in truck tonnage fits with a broader economy that is showing more mixed signals. The good news is if you ignore recent highs and lows, tonnage appears to be leveling off, albeit at a high level.”
April’s reading was revised down compared with our May press release.
Compared with May 2018, the SA index increased 0.9%, the smallest year-over-year gain since April 2017.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 119.1 in May, 1.5% above April level (117.4). In calculating the index, 100 represents 2015.
Trucking serves as a barometer of the U.S. economy, representing 70.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.77 billion tons of freight in 2017. Motor carriers collected $700.1 billion, or 79.3% of total revenue earned by all transport modes.
Ǻ 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 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
Ǻ is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, Ǻ is the voice of the industry America depends on most to move our nation’s freight. Follow Ǻ on ǰ.
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