ARLINGTON, Va. — US for-hire truck tonnage jumped 2.8% in July, marking the second highest level on record.
The American Trucking Associations’ For-Hire Truck Tonnage Index was up 3.7% compared to July 2014. Year-to-date, US tonnage was up 3.4% compared to the same period last year.
“After several soft months starting in February, tonnage really snapped back in July,” said ATA chief economist Bob Costello. “July was the single best monthly gain since November 2013.”
He attributed the growth to better retail sales, factory output and housing starts.
“However, I remain concerned in the near term about the high level of inventories throughout the supply chain. This could have a negative impact on truck freight volumes over the next few months,” Costello said.