Truck tonnage in the United States "has increased sequentially for the last three months," says Bob Costello, chief economist for the American Trucking Associations (ATA.)
"The fact that our index is growing sequentially and on a year-over-year basis demonstrates that contract freight continues to hold up at high levels.
“Looking ahead, we continue to see evidence the inventory cycle is improving, which means bloated stocks will stop being a headwind and eventually help truck freight volumes,” says Costello.
“Increased infrastructure spending will also boost volumes heading into the summer months. However, we expect to see continued freight softness related to lower home construction and slowing factory output.”
Compared with February 2022, the ATA's seasonally adjusted For-Hire Truck Tonnage Index in February 2023 increased by 2.3%, which was its "18th straight, year-over-year gain," according to ATA data.
