The ATA said that its advanced seasonally adjusted For-Hire Truck Tonnage Index was down 2.2 percent in April, following a 4.5 percent decline in March. This index started the year fairly strong, with a 4.5 percent cumulative gain in January and March.
The ATA’s seasonally -adjusted index equaled 99.2 (2000=100), which represents its lowest level since November 2001. March’s index was also dismal at 101.4, which at that time was the lowest level it had seen since March 2002.
And its not seasonally adjusted (NSA) index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was down 2.9 percent from March at 101.6. The ATA’s not seasonally adjusted index in March was up 10.2 percent over February at 104.7, indicating that fleets reported higher volumes in January. But ATA officials said that this gain falls short of the typical 15-20 percent increase that typically occurs from February to March.
Another sign that tonnage levels remain depressed is that tonnage contracted 13.2 percent year-over-year in April, representing the worst year-over-year decrease of the current cycle and the largest drop in 13 years, according to the ATA. This comes on the heels of a 12.2 percent annual contraction from March 2009 to March 2008.
Bob Costello, ATA Chief Economist, said truck tonnage is being impacted by the recession and the massive inventory correction that the supply chain is currently undergoing.
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