One of the best freight markets ever continues: ATA
ARLINGTON, Va. – U.S. for-hire truck tonnage rose 0.7% in May, and was 7.8% stronger than May 2017, according to the American Trucking Associations (ATA).
The ATA also revised up the originally reported 2.2% gain in April to 2.7%.
Year-to-date through the first five months of the year, tonnage is up 8%, far outpacing the annual gain of 3.8% seen in 2017.
“This continues to be one of the best, if not the best, truck freight markets we have ever seen,” said ATA chief economist Bob Costello. “May’s increases, both sequentially and year-over-year, not only exhibit a robust freight market, but what is likely to be a very strong GDP reading for the second quarter. However, in the near-term, look for moderating growth rates for freight simply due to more difficult year-over-year comparisons, not from falling tonnage levels.”
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This was caused by owner_operators and small companies leaving the industry in the last 9 years because rates that were too low. Many good small companies shutdown and the truck drivers got other jobs. E logs will only work if truck drivers are paid for all hours worked at a wage equal to the average in the U.S. To bring young or foreign truck drivers will make a new race to the bottom.