The For-Hire Truck Tonnage Index fell 1.1 percent in July, according to American Trucking Associations’ (ATA) advanced seasonally adjusted (SA).
Trucking represents 72.5 percent of tonnage, including manufactured and retail goods, carried by all modes of domestic freight transportation and is used to assess the health of the U.S. economy.
In 2020, trucks hauled 10.23 billion tons of freight. A total of 80.4 percent of revenue, $732.3 billion, earned by all transport modes was collected by motor carriers.
The tonnage index is based on surveys of ATA members. It is a preliminary figure and might change in the final monthly report that also includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
“Tonnage declined sequentially in July for only the second time during the last twelve months,” ATA Chief Economist Bob Costello said. “Despite the dip from June, tonnage remains at elevated levels and increased significantly from a year earlier. While tonnage is much stronger than a year ago, the monthly gains have moderated as the year has gone on. The combination of softer consumption of goods, home construction falling, and slower manufacturing activity are the main reasons.”
When compared with July 2021, the index increased 5.1 percent.