May tonnage up 0.7%

June 28, 2005
The American Trucking Assns. announced its advanced seasonally adjusted for-hire truck tonnage index rose 0.7% in May

The American Trucking Assns. announced its advanced seasonally adjusted for-hire truck tonnage index rose 0.7% in May thanks to modest economic growth. This is a 1.3% increase over May 2004.

Between January and May, the tonnage index increased 3.2% compared with the same period last year. ATA predicts that annual tonnage in 2005 will see a 3- to 3.5% gain over 2004.

However, ATA also notes that some production sectors, such as domestic steel, are lagging which could drag tonnage later in the year.

“The economy continues to decelerate from last year, but we are not in a significant downturn,” said ATA chief economist Bob Costello. “However, growth in freight volumes will be modest for the rest of this year compared with 2004 when our tonnage index grew 5.7%. I believe there will be a favorable supply-demand market this coming fall freight season despite the moderation in volumes.”

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Leveraging telematics to get the most from insurance

Fleet owners are quickly adopting telematics as part of their risk mitigation strategy. Here’s why.

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...