Truck index up in March
The American Trucking Associations' advance seasonally adjusted For-Hire Truck Tonnage Index increased 0.4 percent in March, following a revised 0.3 percent decrease in February.
The latest improvement put the seasonally adjusted, or SA, index at 109.2, which is the highest level since November 2008. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 116.4 in March, up 19.1 percent from the previous month.
Compared with March 2009, SA tonnage jumped 7.5 percent, which was the fourth consecutive year-over-year gain and the largest increase since January 2005.
ATA Chief Economist Bob Costello said he is getting more optimistic about the motor carrier industry's recovery. 'Freight is moving in the right direction and I continue to hear from motor carriers that both the demand and supply situations are steadily improving.'
Costello attributed the first-quarter improvement in tonnage to the growing economy and to a slight inventory build after some sectors slashed inventories by too much in 2009.