ATA: 'Freight is moving in the right direction'
"Freight is moving in the right direction," says Bob Costello, chief economist for the American Trucking Associations (ATA). "I continue to hear from motor carriers that both the demand and supply situations are steadily improving."
The ATA's advance seasonally adjusted For-Hire Truck Tonnage Index showed a 0.4% increase in March, the last month for which tonnage numbers were available. Compared with March 2009, tonnage jumped 7.5%.
Costello credits tonnage improvement to a rebounding economy "and a slight inventory build after some sectors slashed inventories by too much in 2009."