Truck tonnage index fell 2.5% in February
Even though the American Trucking Associations' (ATA) truck tonnage index dipped in February, the most recent time period for which data is available, the ATA is confident that hauling volumes will continue to grow.
The 2.5% drop was the lowest tonnage level since September 2005, according to ATA officials, in sharp contrast to increases during the five consecutive months before February.
"The string of consecutive monthly increases was bound to come to an end at some point," says Bob Costello, the ATA's chief economist.
"Motor carriers have been telling us that volumes have been fair recently and our index clearly reflects that sentiment."
However, the ATA continues to believe "that motor carriers should experience modest growth in volumes going forward and that the latest decrease should not alarm the industry."
The ATA calculates the tonnage index based on surveys of its more than 37,000 members.