ARLINGTON, Va. — US for-hire truck tonnage gained 1.1% in May, following a revised loss of 1.4% in April.
The American Trucking Associations (ATA) reported tonnage was up 1.8% compared to May 2014, marking the smallest year-over-year gain since February 2013.
Year-to-date through May, tonnage is up 3.7% compared to the same period last year.
“The good news is that truck tonnage increased in May,” said ATA chief economist Bob Costello. “But tonnage is certainly not strong at the moment as factory output is soft and there is an inventory reduction occurring throughout the supply chain.”
Costello noted that truck tonnage is off 2.7% from the high in January.
“I believe the inventory correction should end this summer and truck freight, helped by better personal consumption, will accelerate,” he said, “which is good because I think it is unlikely factory output will boost truck tonnage much until later this year or next year.”