The American Trucking Associations‘ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 0.9% in August, following a revised increase of 3.1% during July. In August, the index equaled 134.2 (2000=100), down from 135.3 in July.
Despite the decreased on a monthlay basis, prospects improved compared to August of last year, with the index increasing 2.1% year-over-year. However, that number was still below the 4% gain in July. Year-to-date through August, compared with the same period last year, tonnage was up 3.3%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 137.0 in August, which was 0.5% below the previous month (137.6).
“After such a robust July, it is not too surprising that tonnage took a breather in August,” said ATA chief economist Bob Costello. “The dip after a strong gain goes with the up and down pattern we’ve seen this year.”
Costello said a few factors hurt August’s reading, including soft housing starts and falling factory output.
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