U.S. truck tonnage rose 4.7% in July from the year-ago level and remained near a record high, bolstered by heavy freight related to the housing, oil and natural-gas markets.
American Trucking Associations said Aug. 20 its advanced seasonally adjusted index was 125.4 in July, just below the 125.9 record set in June. It was the third-highest level ever, trailing only the previous two months.
Truck tonnage has risen at the same 4.7% pace for the first seven months. However, ATA said the index was down 0.1% in July from June, the first drop since April.
“It isn’t surprising that tonnage slipped a little in July,” ATA Chief Economist Bob Costello said. “The decrease corresponds with the small decline in manufacturing output during July reported by the Federal Reserve.”
The Fed’s Aug. 15 announcement showed a 0.1%…
By Rip Watson, Senior Reporter
This story appears in the Aug. 26 print edition of Transport Topics.