Truck tonnage in October rose to the second-highest level on record and climbed 4.5% from a year ago, American Trucking Associations reported.
ATA’s advanced seasonally adjusted for-hire index rose to 132.1, just below the record reading of 132.6 reported in August.
Last month’s gain tied August for the strongest year-over-year growth recorded this year. It followed a 2.9% gain in September that was revised down from an originally reported 3.7% increase.
On a sequential basis, last month’s reading rose 0.5% from September.
“Tonnage made a nice comeback after declining in September,” ATA Chief Economist Bob Costello said in the Nov. 18 report. “The gain fits with the increases in retail sales and factory output during October, as well as with good anecdotal reports about the fall freight season.”
Costello described October’s reading as a “good sign” for the fourth quarter and predicted a “solid” fall freight season.
Year-to-date, tonnage has risen 3.2% compared with the first 10 months of 2013.
ATA calculates the tonnage each month based on reports from its member trucking companies.
Transport Topics 11/18/14