Truck tonnage dropped to four-year low last month, says ATA
Truck tonnage fell 1.8% in October, the largest year-over-year tonnage decrease since February 2001, according to the American Trucking Associations (ATA).
The drop comes on the heels of a 1.6% increase during September and is 4% down from what was recorded in October 2005.
"While September was better than expected, October was certainly weaker than anticipated, especially on a year-over-year basis," says ATA Chief Economist Bob Costello.
"However, the latest number fits with anecdotal reports that the traditional fall freight season was essentially non-existent this year.
"After plummeting in February and March, freight volumes through October, on average, have been flat as every gain since May was followed by an equal or greater loss the next month."