American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 2.4% in May after decreasing 1.7% in April. In May, the index equaled 115.4 (2015=100) compared with 112.7 in April.
“Tonnage had a nice gain in May, but remains in recession territory,” said ATA Chief Economist Bob Costello. “The 2.4 percent gain didn’t erase the 4.5 percent total drop the previous two months. Additionally, tonnage continues to contract from year earlier levels as retail sales remain soft, manufacturing production continues to fall from a year ago, and housing starts contract from 2022 levels.”
Compared with May 2022, the SA index decreased 1.3%, which was the third straight year-over-year decrease. In April, the index was down 3.4% from a year earlier.
more at: https://www.trucking.org/news-insights/ata-truck-tonnage-index-increased-24-may