ALEXANDRIA, Va. — The American Trucking Associations‘ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 0.9 percent in September, marking the third consecutive month-to-month drop.
The index fell 1.6 percent in August and 0.9 percent in July. In September, the seasonally adjusted tonnage index equaled 112.6 (2000 = 100), its lowest level since October 2007.
The seasonally adjusted index was just 0.8 percent higher compared with September 2007. While the index rose year-over-year because of weak 2007 volumes, it is quickly falling toward negative territory.
ATA Chief Economist Bob Costello said the recent decreases in truck tonnage are consistent with a recession. He forecasts a recession beginning in the 2008 third quarter and through the first quarter of 2009.
"I anticipate truck freight volumes to continue to fall before they improve," said Costello. "It is a tough freight market, and there is nothing on the horizon that says this will change anytime soon."
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.