Index Fell 1.5% from April 2023
WASHINGTON, May 21, 2024
/PRNewswire/ -- American Trucking Associations' advanced
seasonally adjusted For-Hire Truck Tonnage Index declined 1.2% in
April after decreasing 2.2% in March. In April, the index equaled
111.7 (2015=100) compared with 113.1 in March.
"The truck freight market remained soft in April as seasonally
adjusted volumes fell for the second straight month,"
said ATA Chief Economist Bob
Costello. "With a rebound in freight remaining elusive,
it is likely that additional capacity will leave the industry in
the face of continued softness in the market."
March's decrease was revised down slightly from our April 23 press release.
Compared with April 2023, the
index fell 1.5%, which was the fourteenth straight year-over-year
decline. In March, the index was down 1.3% 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 112.2 in April, 1.7% below March. ATA's
For-Hire Truck Tonnage Index is dominated by contract freight as
opposed to spot market freight.
In calculating the index, 100 represents 2015.
Trucking serves as a barometer of the U.S. economy,
representing 72.6% of tonnage carried by all modes of domestic
freight transportation, including manufactured and retail goods.
Trucks hauled 11.46 billion tons of freight in 2022. Motor carriers
collected $940.8 billion, or 80.7% 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 5th day of each month. The report includes
month-to-month and year-over-year results, relevant economic
comparisons, and key financial indicators.
American Trucking Associations 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, ATA is the voice of the industry America
depends on most to move our nation's freight. Follow ATA
on Twitter or Facebook. Trucking Moves America
Forward.
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SOURCE American Trucking Associations