ATA: Truck tonnage index drops again in December

The seasonally adjusted For-Hire Truck Tonnage Index slipped 6.2 percent to a reading of 133.8 compared with the previous month, following a revised 8.4 percent jump in November, according to the American Trucking Associations.    Domestic truck tonnage fell back again in December 2016, dropping 6.2 percent compared with the previous month, following a revised 8.4 percent jump in November, according to the American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index.
   The seasonally adjusted index equaled 133.8 for the month, down 0.7 percent compared with December 2015, after growing 5.9 percent year-over-year in November. ATA noted the all-time high index reading was 144 in February 2016.
   For the full year in 2016, tonnage has increased 2.5 percent compared with the same 2015 period.
   The not seasonally adjusted index, which represents the change in tonnage hauled by fleets prior to any seasonal adjustment, equaled 133.9 in December, down 1.6 percent from 136.1 the previous month.
   “The ups and downs that plagued most of 2016 continued in December,” ATA Chief Economist Bob Costello said in a statement. “I don’t recall a year in recent memory with so many large swings on a month-to-month basis.
   “Looking ahead, there are some positive signs for truck tonnage,” he added. “This includes the continued spending by consumers, larger wage gains, and solid home construction.
   “Factory output will continue to be soft, but it should be better this year than last year. And most importantly, the supply chain continues to make progress reducing bloated inventories, which will help truck volumes going forward.”