|By PR Newswire||
|August 19, 2014 12:00 PM EDT||
ARLINGTON, Va., Aug. 19, 2014 /PRNewswire-USNewswire/ -- American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index rose 1.3% in July, following a decrease of 0.8% the previous month. In July, the index equaled 130.2 (2000=100) versus 128.6 in June. The index is off just 0.6% from the all-time high in November 2013 (131.0).
Compared with July 2013, the SA index increased 3.6%, up from June's 2.3% year-over-year gain. The latest year-over-year increase was the largest in three months. Year-to-date, compared with the same period last year, tonnage is up 2.9%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 133.3 in July which was 0.8% above the previous month (132.3).
"After a surprising decrease in June, tonnage really snapped back in July," said ATA Chief Economist Bob Costello. "This gain fits more with the anecdotal reports we are hearing from motor carriers that freight volumes are good."
Costello added that tonnage is up 4.9% since hitting a recent low in January.
"The solid tonnage number in July fits with the strong factory output reading and a jump in housing starts for the same month," he said. "I continue to expect moderate, but good, tonnage growth for the rest of the year."
Trucking serves as a barometer of the U.S. economy, representing 69.1% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 9.7 billion tons of freight in 2013. Motor carriers collected $681.7 billion, or 81.2% of total revenue earned by all transport modes.
ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 10th day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
The American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation's freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward.
SOURCE American Trucking Associations
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