ARLINGTON, Va. – US truck tonnage has suffered this summer, with the sharpest decline since March recorded in August.
The American Trucking Associations (ATA) truck tonnage index showed a 1.6% month-to-month drop in August.
It also adjusted its July figures to show a 0.9% drop, a sharper decline than the originally-reported 0.3%.
The August results are the lowest seasonally-adjusted results since November, 2007, ATA reports.
However, the index was still 2.6% higher in August than August, 2007, which marks 10 consecutive year-over-year gains. Year-to-date, US truck tonnage is up 3.4% over last year.
“Make no mistake about it, freight volumes are weakening.” ATA chief economist Bob Costello noted.
He added the year-over-year growth is more an indication of the softness of 2007 than a strong 2008.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News