ARLINGTON, Va. - The American Trucking Associations' US truck tonnage index rose slightly for the second straight month in February, but the association was quick to point out tonnage is still down 9....
ARLINGTON, Va. – The American Trucking Associations’ US truck tonnage index rose slightly for the second straight month in February, but the association was quick to point out tonnage is still down 9.2% year-over-year.
That marks the third worst year-over-year decrease in the current cycle, noted the ATA. However, the 1.7% increase over January marked two straight months of gains. US truck tonnage contracted 7.8% in December, 2008 but it has clawed back 4.8% of that over the last two months, according to the ATA’s index. ATA chief economist Bob Costello warned against getting overly excited about back-to-back tonnage increases.
“As I said last month, tonnage will not fall every month on a seasonally adjusted basis, and just because it rose again in February doesn’t mean the economy is on the mend,” Costello said. “Tonnage plunged again on a year-over-year basis, which highlights the current weakness in the freight environment.”
He warned there’s little reason to expect a sustained recovery in freight volumes in the near future.
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