WASHINGTON — American Trucking Associations’ (ATAs) advanced seasonally adjusted For-Hire Truck Tonnage Index increased 3.6% in May after decreasing 1% in April.
In May, the index equaled 115.9 (2015=100) compared with 111.9 in April, according to a news release.
“May was the first month since February 2023 that tonnage increased both sequentially and from a year earlier,” said ATA Chief Economist Bob Costello. “While there was clearly an increase in freight before the Memorial Day holiday, it is still too early to say whether this is the start of a long-awaited recovery in the truck freight market.”
April’s decrease was revised up slightly from the ATA’s May 21 news release, ATA officials note.
Compared with May 2023, the index rose 1.5%, the first year-over-year gain in 15 months. In April, 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 120.4 in May, 7.1% above April. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
In calculating the index, 100 represents 2015.
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.
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.
