Arlington, Va. 鈥 杏吧传媒鈥 advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index was down 0.2% in February after increasing 2.5% in January. In February, the index equaled 117.4 (2015=100) compared with 117.6 in January.
鈥淎fter a strong January, I鈥檓 a pleasantly surprised that the index didn鈥檛 fall much last month,鈥 said 杏吧传媒 Chief Economist Bob Costello. 鈥淚 continue to expect tonnage to moderate like other indicators, including retail sales, manufacturing activity and housing starts. Additionally, the level of inventories throughout the supply chain have increased, which is a drag on truck freight.鈥
January鈥檚 reading was revised up slightly compared with our February press release.
Compared with February 2018, the SA index increased 5.4%, down from January鈥檚 5.8% gain. In 2018, the index increased 6.7% over 2017, which was the largest annual gain since 1998.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 106.9 in February, 5.7% below January鈥檚 level (113.3). In calculating the index, 100 represents 2015.
Trucking serves as a barometer of the U.S. economy, representing 70.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.77 billion tons of freight in 2017. Motor carriers collected $700.1 billion, or 79.3% of total revenue earned by all transport modes.听
杏吧传媒 calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.听
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