WASHINGTON — The American Trucking Associations’ (ATAs) Truck Tonnage Index decreased by 2% in March 2024 after increasing by 4% in February 2024.
In March, the index equaled 113.4 (2015=100) compared with 115.7 in February. February’s increase was revised down slightly from the ATA’s March 19 news release.
“Tonnage in March suggests that truck freight volumes remain lackluster, and it is clear the truck freight recession continued through the first quarter,” said ATA Chief Economist Bob Costello. “In the first three months of 2024, ATA’s tonnage index contracted 0.8% from the previous quarter and declined 2.4% from a year earlier, highlighting ongoing challenges the industry is navigating.”
The index fell 1% compared with March 2023, the 13th straight year-over-year decline but the second smallest over that period.
In February, it was down 1.7% from a year earlier.
The not-seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 114.4 in March, 4.7% higher than in February. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
According to the ATA, 100 would represent the year 2015 when calculating the index. ATA also calculates the tonnage index based on surveys from its membership, which it has been doing since the 1970s.
This is a preliminary figure and is subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
Born and raised in Little Rock, AR, Erica N. Guy decided to stay in her hometown to begin her professional career in journalism. Since obtaining her bachelor’s degree from UAPB, Erica has professionally written for several publications about several topics ranging from lifestyle, tech, culture, and entertainment, just to name a few. Continuing her love for her hometown, she joined our team in June 2023, where she is currently a staff writer. Her career goals include continuing storytelling through her writing by being the best professional writer she can be. In her spare time, Erica enjoys trying new foods, cozying up with a good book, spending time with family and friends, and establishing herself as a future businesswoman.
