Truck tonnage increase was short-lived
The American Trucking Associations' (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 0.3% in October, after rising 1.5% in September.
ATA Chief Economist Bob Costello says the October tonnage reading illustrates continued softness in truck tonnage.
Provided the U.S. economy doesn’t slip into a recession, Costello expects freight levels will remain soft until the second half of 2008.
"We anticipate truck freight volumes to be lackluster for the next couple of quarters. There is nothing on the horizon that points to an acceleration in truck freight."