by Bill McBride on 3/27/2012 02:58:00 PM
Tuesday, March 27, 2012
The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.5% in February after falling 4.6% in January. (January’s decrease was more than the preliminary 4% drop we reported on February 28th.) The latest gain put the SA index at 119.3 (2000=100), up from January’s level of 118.7. Compared with February 2011, the SA index was up 5.5%, better than January’s 3.1% increase.Click on graph for larger image.
“Fleets told us that February was decent and that played out in the numbers,” ATA Chief Economist Bob Costello said. Costello noted that February’s month-to-month increase was sixth in the last seven months.
“I’m still expecting continued truck tonnage growth going forward. Rising manufacturing activity and temperate consumer spending should be helped a little from an improving housing market,” he said.
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. The index is above the pre-recession level and up 5.5% year-over-year. 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.
Earlier on House Prices:
• Case Shiller: House Prices fall to new post-bubble lows in January
• Real House Prices and Price-to-Rent Ratio decline to late '90s Levels
• All current house price graphs
Posted by Bill McBride on 3/27/2012 02:58:00 PM