Highway freight volumes continue to soften
Truck tonnage fell 2.3 percent in May from April on a seasonally adjusted basis, according to the American Trucking Associations.
The ATA’s monthly tonnage index, compiled by surveying the group’s members, now stands at 112.3 compared to 114.9 in April.
Compared with May 2010, tonnage grew 2.7 percent, which represents the smallest year-over-year gain since February 2010. In April, when month-over-month tonnage dipped 0.6 percent, the tonnage index was 4.8 percent above a year earlier.
Truck tonnage over the last four months shows that the economy definitely hit a soft patch this spring,' ATA Chief Economist Bob Costello said. 'With our index falling in three of the last four months totaling 3.7 percent, it is clear why there is some renewed anxiety over the economic recovery.'
He added that he is cautiously optimistic that freight volumes will pick up in the second half of the year along with economic activity.
Highway freight volumes continue to soften
