by Bill McBride on 6/27/2016 03:35:00 PM
Monday, June 27, 2016
From the ATA: ATA Truck Tonnage Index Increased 2.7% in May
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.7% in May, following a revised 1.7% drop during April. In May, the index equaled 139 (2000=100), up from 135.3 in April. The all-time high was 144 in February.Click on graph for larger image.
Compared with May 2015, the SA index jumped 5.7%, which was up from April’s 2.4% year-over-year gain.
“Following two consecutive decreases totaling 6 percent, May was a nice increase in truck tonnage,” said ATA Chief Economist Bob Costello. “Better consumer spending in April and May certainly helped, but economic growth remains mixed and I’d expect the recent choppy pattern in tonnage to continue for the next quarter or two.
“We recently received good news on the inventory cycle, with the total business inventory-to-sales ratio declining for the first time in nearly a year. While one month doesn’t make a trend, this was good news for the trucking industry,” 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 now up 5.7% year-over-year.
Posted by Bill McBride on 6/27/2016 03:35:00 PM