Tonnage continued to fall in June, says ATA
The American Trucking Associations' (ATA) For-Hire Truck Tonnage Index fell .1% in June, marking its third consecutive month-to-month drop.
"Tonnage fell 1.3 percent in May and has dropped 3.5 percent since March," say ATA officials.
ATA Chief Economist Bob Costello said that while the government reported the economy grew at a 3.4% annualized rate in the second quarter, that strength did not filter into the transport sector.
"Our tonnage index fell 1.8% during the second quarter from the first quarter and was 3.2% lower than the same quarter in 2006.
"Unfortunately, with (the new) housing (market) still weakening, the improvement in tonnage during the second half of the year will likely be less than previously thought."