Post by HardTimeTrucker on Sept 25, 2009 19:46:41 GMT -5
Truck Tonnage Climbs in August
ATA index rises 2.1 percent, matching July gain, reflecting growing economy
Truck tonnage climbed for the second month in a row in August, boosting the American Trucking Associations’ advance seasonally adjusted For-Hire Truck Tonnage Index another 2.1 percent over a similar gain in July.
Compared with August 2008, seasonally adjusted tonnage fell 7.5 percent, which was the best year-over-year showing since November 2008.
“The gains in tonnage during July and August reflect a growing economy and less of an overhang in inventories,” said ATA Chief Economist Bob Costello. “While I am optimistic that the worst is behind us, most economic indicators, including industrial output and household spending, suggest freight tonnage will exhibit moderate, and probably inconsistent, growth in the months ahead,” Costello said.
Contact Thomas L. Gallagher at tgallagher@joc.com.
ATA index rises 2.1 percent, matching July gain, reflecting growing economy
Truck tonnage climbed for the second month in a row in August, boosting the American Trucking Associations’ advance seasonally adjusted For-Hire Truck Tonnage Index another 2.1 percent over a similar gain in July.
Compared with August 2008, seasonally adjusted tonnage fell 7.5 percent, which was the best year-over-year showing since November 2008.
“The gains in tonnage during July and August reflect a growing economy and less of an overhang in inventories,” said ATA Chief Economist Bob Costello. “While I am optimistic that the worst is behind us, most economic indicators, including industrial output and household spending, suggest freight tonnage will exhibit moderate, and probably inconsistent, growth in the months ahead,” Costello said.
Contact Thomas L. Gallagher at tgallagher@joc.com.