In November, truck tonnage grew 2.3 percent after increasing 3.9 percent in October, according to the American Trucking Associations’ (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index.
The seasonally adjusted index is an adjustment to tonnage hauled based on the season.
The index equaled 151.8 in November, and 148.4 in October.
When compared to 2016, the SA index spiked 10.5 percent in October and 7.6 percent in November.
The first 11 months of 2017 are 3.5 percent stronger on the index than 2016.
When not seasonally adjusted, the index reached 151.8 in October and 147.1 in November.
“The freight market is really strong,” ATA Chief Economist Bob Costello said. “The solid truck tonnage figures over the last four months suggest to me that this holiday spending season might be better than many expected, and the best in several years. The strength in tonnage also shows that other parts of the economy are doing well, too, including business investment, factory output, and even construction.”
Last year, the trucking industry hauled 10.5 billion tons of freight and collected $676.2 billion in revenue.
The trucking industry represents 70.6 percent of tonnage carried in the United States and 79.8 percent of the total revenue collected from all modes of transportation.