by Bill McBride on 5/27/2014 07:43:00 PM
Tuesday, May 27, 2014
Here is a minor indicator that I follow, from ATA: ATA Truck Tonnage Index Increased 1.5% in April
The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 1.5% in April, after rising 0.6% the previous month. In April, the index equaled 129.1 (2000=100) versus 127.2 in March. The all-time high was in November 2013 (131.0).Click on graph for larger image.
Compared with April 2013, the SA index increased 4.8%, which is the largest year-over-year gain of 2014.
“April was the third straight gain in tonnage totaling 4%,” said ATA Chief Economist Bob Costello. Tonnage is off 1.4% from the all-time high in November.
“I’m pleased that tonnage has been making solid progress after falling a total of 5.2% in December and January,” he said. “And April’s nice gain was better than the contraction in industrial production and the lackluster retail sales during the same month.”
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 has rebounded following the sharp decline during the winter and is now up 4.8% year-over-year.
Posted by Bill McBride on 5/27/2014 07:43:00 PM