Truck Tonnage Index Jumped 1.9% in October

The seasonally adjusted For-Hire Truck Tonnage Index increased 1.9% in October, following a decrease of 0.7% during September according to a leading trucking group.

Compared with October 2014, the index increased 2%, which was above the year-over-year increase of 1.6% in September. However, October’s year-over-year gain was well below the year-to-date figure through October, compared with the same period last year (3%), noted the American Trucking Associations.

“It was good to see tonnage increase nicely in October after contracting a total of 1.6% in August and September,” said ATA Chief Economist Bob Costello. “However, tonnage has been overall pretty flat this year, as October’s reading is just shy of January’s level.”

He continued, ”I remain concerned about the high level of inventories throughout the supply chain. We recently learned that inventories throughout the supply chain and relative to sales rose in September, which is not a good sign. This will have a negative impact on truck freight volumes over the next few months,” he said.

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