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ATA Truck Tonnage Index Decreased 2% in March

April 24, 2024, 07:05 AM
Filed Under: Trucking

American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index declined 2 percent in March after increasing 4 percent in February. In March, the index equaled 113.4 (2015=100) compared with 115.7 in February.

"Tonnage in March suggests that truck freight volumes remain lackluster, and it is clear the truck freight recession continued through the first quarter," said ATA Chief Economist Bob Costello. "In the first three months of 2024, ATA's tonnage index contracted 0.8 percent from the previous quarter and declined 2.4 percent from a year earlier, highlighting ongoing challenges the industry is navigating."

February's increase was revised down slightly from its March 19 press release.

Compared with March 2023, the index fell 1 percent, which was the 13th straight year-over-year decline, but the second smallest over that period. In February, the index was down 1.7 percent from a year earlier.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 114.4 in March, 4.7 percent higher than in February. ATA's For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.

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