ARLINGTON, Va. -- US truck tonnage posted its first gain since February, rising 3.2% in May, according to the American Trucking Associations’ seasonally-adjusted For-Hire Truck Tonnage Index.
However, the modest gains were not enough to erase the 6.7% reduction suffered through March and April, the ATA noted. Tonnage was still off 11% compared to May, 2008, however that’s the best year-over-year result in three months.
ATA chief economist Bob Costello said it’s too early to expect a surge in truck tonnage.
“I am hopeful that the worst is behind us, but I just don’t see anything on the economic horizon that suggests freight transportation is ready to explode,” Costello said. “The consumer is still facing too many headwinds, including employment losses, tight credit, rising fuel prices, and falling home values, to name a few, that will make it very difficult for household spending to jump in the near term.”
However, Costello added he doesn’t expect tonnage to deteriorate much further.