The American Trucking Associations (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index increased 1% in May 2014 after a revised 0.9% gain the previous month.
In May, the index equaled 129.7 (2000=100) versus 128.3 in April. The index is off just 1% from the all-time high in November 2013 (131.0).
Compared with May 2013, the SA index gained 3.4%, down from April’s 4.2% year-over-year gain, but nonetheless the second-largest increase in 2014. Year-to-date, versus the same period in 2013, tonnage is up 2.9%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 133 in May 2014. This was 1.8% above the previous month (130.7).
“I’m pleased at the direction of freight, highlighted by May’s fourth consecutive gain in tonnage totaling 4.5%,” said Bob Costello, ATA chief economist.
“While the year-to-date improvement is running behind last year’s robust 6.3% increase, gains this year are more broad-based,” he said. “It isn’t just heavy freight for sectors like tank truck and flatbed from energy and housing that are improving this year. Now generic dry van trailer freight is doing better as well, which wasn’t the case in 2013. This is a good sign for the economy.”
Trucking serves as a barometer of the US economy, representing 68.5% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 9.4 billion tons of freight in 2012. Motor carriers collected $642.1 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 10th day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.