Truck economist expresses optimism

Truck economist expresses optimism

Costello

   The American Trucking Associations said its advance seasonally adjusted for-hire truck tonnage Index was 101.9 in July, 10.4 percent behind where it was in July 2008, but up 2.1 percent from June 2009.
   ATA Chief Economist Bob Costello said truck tonnage will continue to be choppy in the months ahead, but that is not necessarily a bad thing.
   'It is not unusual for an economic indicator to become volatile before changing direction,' Costello said. He is hopeful that truck tonnage has finally hit bottom as it has been bouncing around a seven-year low for the last few months. 'While I am optimistic that the worst is behind us, I just don't see anything on the economic horizon that suggests freight tonnage is about to rise significantly or consistently,' Costello said. 'Still, even small gains are better than the February 2008 through April 2009 cumulative tonnage reduction of 15.5 percent.'