ATA: Truck tonnage index slipped in September, erasing half its beneficial properties since April

A month-to-month index of trucking tonnage fell 1.1% in September after rising 0.2% in August, erasing half the beneficial properties it had made since hitting a backside in April, in line with the American Trucking Associations (ATA).

And in contrast with September 2022, the index fell 4.1%, which was the seventh straight year-over-year lower and the most important over that interval, in line with the ATA’s superior seasonally adjusted (SA) For-Rent Truck Tonnage Index.

Within the context of an ongoing freight recession, the most recent stoop in truck freight tonnage probably brings the market to the underside of this cycle, however the unstable market nonetheless faces “uneven waters” forward, the ATA stated.

“After hitting a backside in April, tonnage elevated in three of the earlier 4 months, gaining a complete of two.2% earlier than September’s drop,” ATA Chief Economist Bob Costello stated in a launch. “Nevertheless, this freight market stays in flux, and the index contracted by 1.1% in September, which erased half of these beneficial properties. Moreover, the year-over-year lower was the most important drop since November 2020 on a really tough comparability – September 2022 – which was the earlier cycle excessive.”

The not seasonally adjusted index, which represents the change in tonnage truly hauled by the fleets earlier than any seasonal adjustment, equaled 112.5 in September, 6.8% beneath the August degree (120.7). In calculating the index, 100 represents 2015. ATA’s For-Rent Truck Tonnage Index is dominated by contract freight versus spot market freight.