American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 2% in March after increasing 4% in February.
In March, the index equaled 113.4 (2015=100) compared with 115.7 in February, ATA reported.
“Tonnage in March suggests that truck freight volumes remain lackluster, and it is clear the truck freight recession continued through the first quarter,” Bob Costello, ATA chief economist, said in a news release. “In the first three months of 2024, ATA’s tonnage index contracted 0.8% from the previous quarter and declined 2.4% from a year earlier, highlighting ongoing challenges the industry is navigating.”
Compared with March 2023, the index fell 1%, which was the 13th consecutive year-over-year decline, but the second smallest over that period. In February, the index was down 1.7% from a year earlier.