The American Trucking Assns. seasonally-adjusted for-hire truck tonnage index decreased 0.9% in September, the trucking lobby announced. This marks the third consecutive month-to-month drop, as the index fell 1.6% in August and 0.9% in July.
While the September 2008 index is 0.8% higher than September 2007, it has fallen to its lowest level since October 2007, and ATA chief economist Bob Costello said the recent decreases in truck tonnage are consistent with a recession.
“I anticipate truck freight volumes to continue to fall before they improve,” Costello said. “It is a tough freight market, and there is nothing on the horizon that says this will change anytime soon.”