ECONOMIC WATCH: Truck tonnage rebounds in September
ARLINGTON, Va. – U.S. for-hire truck tonnage jumped 6.7% in September, but was down 2.7% year-over-year, according to the latest data from the American Trucking Associations (ATA). September’s increase came on the heels of a 5.3% decline in August.
“September had a nice recovery after a significant decline in August,” said ATA chief economist Bob Costello. “The truck freight market continues to be bifurcated, with strength in retail and home construction, but some continued weakness in industrial freight. During the third quarter, truck tonnage increased 2.4% over the second quarter, but fell 5.3% from a year earlier.”
The year-over-year decrease was the sixth straight such decline.
Year-to-date compared to the same period in 2019, tonnage is down 3.3%, the ATA reports.