by Bill McBride on 10/25/2011 03:55:00 PM
Tuesday, October 25, 2011
The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 1.6% in September after falling a revised 0.5% in August 2011. August’s decrease was more than the 0.2% drop ATA reported on September 27, 2011. The latest gain put the SA index at 115.8 (2000=100) in September, up from the August level of 114.Click on graph for larger image in graph gallery.
Compared with September 2010, SA tonnage was up a solid 5.9%. In August, the tonnage index was 4.9% above a year earlier.
“I continue to believe the economy will skirt another recession because truck tonnage isn’t showing signs that we are in a recession,” ATA Chief Economist Bob Costello said. “Tonnage is suggesting that we are in a weak growth period for the economy, but not a recession.”
Here is a long term graph that shows ATA's For-Hire Truck Tonnage index.
The dashed line is the current level of the index. From ATA:
Trucking serves as a barometer of the U.S. economy, representing 67.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 9 billion tons of freight in 2010. Motor carriers collected $563.4 billion, or 81.2% of total revenue earned by all transport modes.Sluggish growth after stalling earlier this year ...
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Posted by Bill McBride on 10/25/2011 03:55:00 PM