Truck tonnage fell 0.8 percent in July and 0.3 percent in June when adjusted seasonally, according to the American Trucking Associations’ (ATA) For-Hire Truck Tonnage Index.
In July, the index equaled 112.9 compared with 113.8 in June.
“Headwinds for freight remained in July, pushing the truck tonnage index lower,” ATA Chief Economist Bob Costello said. “As has been the case for several months, a multitude of factors have caused a recession in freight, including sluggish spending on goods by households as consumers traveled more and went to concerts this summer. Less home construction, falling factory output and shippers consolidating freight into fewer shipments compared with the frenzy during the goods buying spree at the height of the pandemic are also significant drags on tonnage.”
ATA calculates tonnage based on surveys from its members. The figure can change in each month’s final report issued around the 5th. The report includes month-to-month and year-over-year results, economic comparisons, and financial indicators.
The index dropped 3 percent when compared with July 2022, the fifth straight year-over-year decrease, and fell 3.2 percent when compared to June 2022.
Trucking representing 72.6 percent of tonnage carried by all modes of domestic freight transportation.