ARLINGTON, VA – For-hire truck tonnage was up in October, suggesting a happy holiday season is to come, according to the American Trucking Associations (ATA).
The ATA’s seasonally adjusted for-hire truck tonnage index rose 3.3% from the month before, after they posted a decline of 1.9% was in September. That number was later adjusted to a decline of 0.9%
The index showed tonnage was up year-over-year with an increase of 9.9% from October 2016. The ATA says it’s the largest year-over-year increase since December 2013.
The index is up for 2017 overall, showing a 3.1% increase from the same 10-month period in 2016.
ATA chief economist Bob Costello says increased consumption, factory output, construction, and improved inventory levels throughout the supply chain.
“The 6.7% rise in tonnage over the last four months suggests to me that retailers are expecting a good holiday spending season,” he said.
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