ATA: Truck tonnage ticks up 3.3% in October

The seasonally adjusted For-Hire Truck Tonnage Index stood at a reading of 147.6 in October, up 3.3 percent from September’s reading of 142.9, according to the American Trucking Associations (ATA).    Domestic truck tonnage in October ticked up 3.3 percent from the previous month, following a 1.9 percent monthly decline in September, according to the American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index.
   The seasonally adjusted index equaled 147.6 in October, up from 142.9 in September.
   Compared to October 2016, the seasonally adjusted index rose 9.9 percent, the largest year-over-year increase since December 2013.
   Overall, for the first 10 months of 2017, the seasonally adjusted index rose 3.1 percent from the corresponding 2016 period.
   Meanwhile, the not seasonally adjusted index, which represents the change in tonnage hauled by fleets prior to any seasonal adjustment, stood at 151 in October, up 5.1 percent from September.
   “Continued improvement in truck tonnage reflects a much stronger freight market,” ATA Chief Economist Bob Costello said. “This strength is the result of several factors, including consumption, factory output, construction and improved inventory levels throughout the supply chain. Additionally, the 6.7 percent rise in tonnage over the last four months suggests to me that retailers are expecting a good holiday spending season.”