Truck tonnage slowed in May
The U.S. trucking industry’s strong growth this year leveled off in May, according to the American Trucking Associations monthly benchmark of activity.
The trade association said Friday its preliminary tonnage index of for-hire motor carriers fell 0.6 percent in May on a sequential basis, after rising in March and April. Progress continued year-over-year, with tonnage up 7.2 percent versus May 2009. Year-to-date tonnage is up 6.2 percent from a year ago.
The ATA weights the index to account for seasonal variations in shipping patterns. The index only provides a partial view of the market because the survey is conducted with members, most of which are mid-to-large-size companies.
The tonnage index increased 0.9 percent in April and 0.4 percent in March.
'Despite the month-to-month drop in May, the trend line is still solid. There is no way that freight can increase every month, and we should expect periodic decreases. This doesn't take away from the fact that freight volumes are quite good, especially considering the reduction in truck supply over the last couple of years,' Chief Economist Bob Costello said.
The ATA figures are in line with Morgan Stanley’s most recent truckload index, which shows demand peaked in mid-May. ' Eric Kulisch
Truck tonnage slowed in May
