The American Trucking Assns. (ATA) seasonally adjusted For-Hire Truck Tonnage Index decreased 1.6% in August, reaching its lowest level since November 2007 and marking the largest month-to-month drop since March. In addition, the index fell 0.9% in July, a larger drop than the 0.3% originally projected.
However, the August seasonally adjusted index was 2.6% higher compared to August 2007, its tenth consecutive year-over-year increase.
“We are forecasting a mild recession later this year and early next year,” said ATA chief economist Bob Costello. “Make no mistake about it, freight volumes are weakening.” He added that trucking will see an improvement before the overall economy will.
- ATA Truck Tonnage Index Falls 0.3% in July
- ATA Truck Tonnage Index Jumps 1.3% in June
- ATA Truck Tonnage Index Rises 0.5% in May