ARLINGTON, Va., Jan. 19, 2021 /PRNewswire/ — American Trucking Associations’ superior seasonally adjusted (SA) For-Rent Truck Tonnage Index elevated 7.4% in December after rising 3.2% in November. In December, the index equaled 120 (2015=100) in contrast with 111.7 in November.
“Tonnage ended final yr on a excessive observe,” stated ATA Chief Economist Bob Costello. “The index not solely registered the biggest month-to-month acquire since June, nevertheless it additionally had the primary year-over-year enhance since March. Freight continues to be helped by robust consumption, a retail stock restocking, and sturdy single-family residence development. With the stimulus checks just lately issued and with a powerful risk of extra within the close to future, I might anticipate truck freight to proceed rising.”
November’s acquire was revised down barely to three.2% from our December 22 press launch.
In contrast with December 2019, the SA index rose 2.3%. For all of 2020, in contrast with the identical 12-month interval in 2019, tonnage was down 3.3%. 2019 had an annual enhance of three.3%.
“Due to the pandemic, 2020 was clearly a really difficult yr for the financial system general, and that’s reflecting within the tonnage index’s dip from the earlier yr,” Costello stated. “Regardless of that, truck tonnage clearly outperformed the broader financial system as freight continued to maneuver within the face of a myriad of COVID-related challenges confronted by the nation.”
The not seasonally adjusted index, which represents the change in tonnage truly hauled by the fleets earlier than any seasonal adjustment, equaled 115.9 in December, 5.4% above the November degree (109.9). In calculating the index, 100 represents 2015. ATA’s For-Rent Truck Tonnage Index is dominated by contract freight versus spot market freight.
Trucking serves as a barometer of the U.S. financial system, representing 72.5% of tonnage carried by all modes of home freight transportation, together with manufactured and retail items. Vehicles hauled 11.84 billion tons of freight in 2019. Motor carriers collected $791.7 billion, or 80.4% of complete income earned by all transport modes.
ATA calculates the tonnage index primarily based on surveys from its membership and has been doing so because the Seventies. This can be a preliminary determine and topic to alter within the last report issued across the fifth day of every month. The report contains month-to-month and year-over-year outcomes, related financial comparisons, and key monetary indicators.
The American Trucking Associations is the biggest nationwide commerce affiliation for the trucking {industry}. Via a federation of fifty affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the {industry} America is dependent upon most to transfer our nation’s freight. Observe ATA on Twitter or on Facebook. Trucking Moves America Forward.
SOURCE American Trucking Associations
