ARLINGTON, Va. — US truck tonnage spiked 3% in January, but the American Trucking Association’s (ATA) year-over-year index was still down 10.8% compared to January 07.
And the 3% bump did little to offset the 7.8% contraction in December, according to chief economist Bob Costello. On the bright side, January marked only the second month-to-month increase in the last seven months. However, January’s figures were the second lowest since October, 2002.
“Tonnage will not fall every month, and just because it rises every now and then doesn’t mean the economy is on the mend,” Costello said. “Furthermore, tonnage is contracting significantly on a year-over-year basis, which is highlighting the current weakness in the freight environment.”
Costello warned we’re still months away from any sustained truck tonnage recovery.
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