Transport Topics (November 25, 2020)
Truck tonnage in October declined a seasonally adjusted 8.7% when compared with year-ago levels, according to the American Trucking Associations index released yesterday. This marks the seventh consecutive month of year-over-year declines. When measured month-to-month, the ATA For-Hire Truck Tonnage Index decreased 6.3% after an increase of 5.7% in September. Still, analysts are holding off from sounding the alarm. ATA Chief Economist Bob Costello said, “While there are indications that the economy is losing momentum, I believe October’s tonnage softness was more of a seasonal issue during a pandemic than anything else.”