ARLINGTON, Va. – U.S. for-hire truck tonnage spiked 2.3% in November, adding to the 3.9% increase recorded in October.
The American Trucking Associations reported the index was up 7.6% year-over-year in November. Year-to-date, truck tonnage is up 3.5% through the first 11 months. The ATA also upped the October increase to 3.9%, from the 3.3% initially reported.
“The freight market is really strong,” said ATA chief economist Bob Costello. “The solid truck tonnage figures over the last four months suggest to me that this holiday spending season might be better than many expected, and the best in several years. The strength in tonnage also shows that other parts of the economy are doing well, too, including business investment, factory output, and even construction.”