ARLINGTON, Va. — US truck tonnage increased 1.7% in November, increasing over the previous month for the first time since June.
The American Trucking Associations, which tracks the data, says truck tonnage contracted 6.3% between June and October. October’s tonnage was the lowest in five years. November’s tonnage was 1.8% lower than November 2007, marking the second straight year-over-year decrease.
But despite the uptick in November, the ATA is not throwing any parties. The association says the freight outlook remains bleak
“Don’t let November’s increase in the seasonally adjusted index fool you,” said ATA chief economist, Bob Costello, noting the figure is seasonally-adjusted. “Freight volumes were down substantially before any seasonality is taken out of the data.”
Costello said the industry should prepare to see freight volumes contract further through the first half of 2009.
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