ARLINGTON, Va. — US for-hire truck tonnage declined 3.1% in February, reaching the lowest level since September 2014.
However, tonnage was still up 3% compared to February 2014. That, though, was the smallest year-over-year gain seen since June of last year and below the 2014 annual increase of 3.7%.
“The February drop in truck tonnage was not a surprise,” said ATA Chief Economist Bob Costello. “Retail sales, manufacturing output and housing starts were all off during the month, so the tonnage decline fits with those indicators. The surprise would have been had tonnage increased with all of those sectors falling.”
Winter weather also played a role, affecting retail, manufacturing and housing starts.