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Economists: ‘Tonnage was soft in June’

Tuesday, July 21, 2015   (0 Comments)
Posted by: Ford Boswell
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American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 0.5 percent in June, following a revised gain of 0.8 percent during May. In June, the index equaled 131.1 (2000=100). The all-time high of 135.8 was reached in January 2015.

Compared with June 2014, the SA index increased 1.8 percent, which was above the 1.5 percent gain in May. Year-to-date through June, compared with the same period last year, tonnage was up 3.4 percent.

During the second quarter, the SA index fell 1.7 percent from the first quarter but increased 2 percent from the same quarter in 2014.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 138.2 in June, which was 4.2 percent above the previous month (132.7).

“With flat factory output and falling retail sales, I’m not surprised tonnage was soft in June,” said ATA Chief Economist Bob Costello. “I also remain concerned over the elevated inventory-to-sales ratio for retailers, wholesalers, and manufacturers, which suggests soft tonnage in the months ahead until the ratio falls.

“I remain hopeful that the inventory correction will transpire this summer. When the correction ends, truck freight – helped by better personal consumption – will accelerate,” he said. 

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