Tuesday, October 26, 2010

ATA: Truck Tonnage Index increases in September: "Economy barely growing"

by Bill McBride on 10/26/2010 02:27:00 PM

From the American Trucking Association: ATA Truck Tonnage Index Rose 1.7 Percent in September

The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 1.7 percent in September after falling a revised 2.8 percent in August. The latest gain put the SA index at 108.7 (2000=100) in September from 106.9 in August.
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Compared with September 2009, SA tonnage climbed 5.1 percent, which was well above August’s 2.9 percent year-over-year gain. Year-to-date, tonnage is up 6.1 percent compared with the same period in 2009.

ATA Chief Economist Bob Costello said that truck tonnage over the last few months fits with an economy that is growing very slowly. “While I am glad to report that tonnage grew in September, the fact remains that truck freight volumes leveled off over the summer and early autumn. This is a reflection of an economy that is barely growing.”
ATA Truck Tonnage Index Click on map for larger image.

This graph from the ATA shows the Truck Tonnage Index since Jan 2006.

The lines are added to show the index has mostly "leveled off".