WASHINGTON — The American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index for April shows a decline of 1.2%.
This comes after a decrease of 2.2% in March.
The April index equaled 111.7 (2015=100) compared with 113.1 in March.
In calculating the index, 100 represents 2015.
“The truck freight market remained soft in April as seasonally adjusted volumes fell for the second straight month,” said American Trucking Associations Chief Economist Bob Costello. “With a rebound in freight remaining elusive, it is likely that additional capacity will leave the industry in the face of continued softness in the market.”
Compared with April 2023, the index fell 1.5%, which was the 14th straight year-over-year decline.
In March, the index was down 1.3% 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 112.2 in April, 1.7% below March. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
Trucking serves as a barometer of the U.S. economy, representing 72.6% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.46 billion tons of freight in 2022. Motor carriers collected $940.8 billion, or 80.7% of total revenue earned by all transport modes.
The ATA notes that “these are preliminary figures and subject to change in the final report issued around the fifth day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.”
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
