ARLINGTON, Va. – US truck tonnage dropped 5.8% in September, according to the American Trucking Associations’ For-Hire Truck Tonnage Index.
The sharp drop came on the heels of a 5% rise in August. Tonnage was down 0.7% compared to September 2015, marking the first year-over-year decline since last October. Year-to-date, tonnage is up 3%.
“Volatility this year continued again in September with the large drop after a significant increase in August,” said ATA chief economist Bob Costello. “The changes we’re seeing in typical seasonal trends are making it difficult to discern any real or clear trend in truck tonnage. Adjusting for the larger ups and downs this year, as well as talking with many fleets, I currently see a softer than normal freight environment, which is likely to continue until the inventory correction is complete. Looking ahead, the slow growth economic environment does not suggest that significantly stronger truck tonnage numbers are in the near term either.”