ATA tonnage index grows, but recovery still far away

The American Trucking Assns.’ (ATA) seasonally adjusted for-hire truck tonnage index increased 3% in January, marking only the second month-to-month increase in the past seven months.

The index declined 10.8% year-over-year and is still at its second-lowest level since October 2002, according to ATA, which said that any sustained recovery in tonnage will not be seen for months.

“Tonnage will not fall every month, and just because it rises every now and then doesn’t mean the economy is on the mend,” said ATA chief economist Bob Costello. “Furthermore, tonnage is contracting significantly on a year-over-year basis, which is highlighting the current weakness in the freight environment.”