The American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index reached 111.9 in January, the same as December. The index increased 0.3 percent when compared to January 2023, the first year-over-year increase since August.
As part of its annual revision, ATA revised the seasonally adjusted index back five years.
“After declines in November and December totaling 1.7 percent, tonnage was unchanged in January” ATA Chief Economist Bob Costello said. “This outcome is impressive considering the massive winter storm that brought cold temperatures and significant snowfalls to large parts of the country, including those that rarely see such storms. Furthermore, the terrible wildfires in California likely also caused freight disruptions. Softness in manufacturing and retail sales continue to be a drag on truck freight volumes as well, so the fact tonnage was flat is a positive sign.”
The not seasonally adjusted index calculates raw changes in tonnage hauled, and it equaled 110 in January, 1.1 percent higher than December.
The indices are calculated based on surveys from ATA members and are dominated by contract freight. The ATA releases a monthly report that includes month-to-month and year-over-year results. Each month’s preliminary figure is subject to change in the final report.